HAMBURG: South Korea's Major Feedmill Group (MFG) purchased around 196,000 tonnes of corn to be sourced from the United States and optional origins in private deals on Friday without an international tender being issued, European traders said.
Some 66,000 tonnes of US corn was purchased at an estimated $245.74 a tonne c&f plus a surcharge of $1.25 a tonne for 2021 shipment from the US Gulf between Feb. 5 and Feb. 24 for arrival in South Korea around March 31.
The seller was believed to be trading house ADM.
Another 65,000 tonnes to be sourced from optional origins was purchased at an estimated $238.57 a tonne c&f plus an additional port surcharge of $1.25 a tonne for arrival in South Korea around April 26. The seller was believed to be trading house Cofco.
A further 65,000 tonnes also to be sourced from the United States was purchased from ADM at an estimated $239.99 a tonne c&f plus an additional port surcharge of $1.25 a tonne.
The third consignment was for 2021 shipment from the US Gulf between Feb. 19 and March 10.-Reuters
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