South Korea’s NOFI bought about 68,000 tons corn in private deal on Wednesday, traders say
- The corn was said to have been purchased by NOFI unit NH Feed at an estimated outright price of $257.88 a ton cost
HAMBURG: Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) purchased around 68,000 metric tons of animal feed corn in a private deal late on Wednesday without an international tender being issued, European traders said on Thursday.
The corn was said to have been purchased by NOFI unit NH Feed at an estimated outright price of $257.88 a ton cost and freight (c&f) included plus an extra $1.50 a ton surcharge for additional port unloading. NOFI’s corn was for arrival in South Korea around August 1.
If sourced from the US Pacific Northwest coast, shipment was between June 14 and July 12. Seller believed to be trading house CHS.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
The deal continued brisk purchasing by Korean grain importers on Wednesday after price falls following the Iran war ceasefire.
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