HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased an estimated 137,000 metric tons of animal feed corn in an international tender on Friday, European traders said. One 69,000 consignment to be sourced from South America or South Africa only was bought at an estimated $260.25 a ton cost and freight (c&f) plus an additional $1.50 a ton surcharge for additional port unloading.
The South American/South African corn is for arrival in South Korea around July 10 and seller was believed to be trading house Cargill.
A second consignment of 68,000 tons to be sourced from optional origins was bought at an estimated $253.49 a ton c&f plus an additional $1.50 a ton surcharge for additional port unloading.
The optional origin corn, thought likely to be sourced from the US Pacific Northwest coast, is for arrival in South Korea around June 25 and the seller was believed to be trading house Olam.
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