South Korea's KFA buys about 62,000 T corn in tender

• The tender continues a steady stream of corn purchasing by Korean importers in the past month after prices fell.
• Chicago corn futures remain close to 2-month lows hit on Nov. 20 as a U.S.-China trade deal remains elusive.
• Shipment was sought between Feb. 20 and March 10 if sourced from the U.S. Pacific Northwest coast.

HAMBURG: The Korea Feed Association (KFA) purchased about 62,000 tonnes of yellow corn to be sourced optionally from any worldwide origin in a tender which closed on Wednesday, European traders said.

The corn was purchased by the KFA's Busan section at around $208.38 a tonne c&f including a surcharge for additional port unloading.

It was for arrival around March 25, 2020, and was bought from trading house Glencore, they said.

Shipment was sought between Feb. 20 and March 10 if sourced from the U.S. Pacific Northwest coast, between Jan. 31 and Feb. 19 if sourced from the U.S. Gulf or Black Sea region/east Europe, between Jan. 26 and Feb. 14 if from South America and between Feb. 5 and Feb. 24 if from South Africa.

The tender continues a steady stream of corn purchasing by Korean importers in the past month after prices fell.

South Korea's Major Feedmill Group (MFG) also purchased about 60,000 tonnes of corn to be sourced from optional worldwide origins in a private deal late on Monday without issuing an international tender.

Chicago corn futures remain close to 2-month lows hit on Nov. 20 as a U.S.-China trade deal remains elusive.