HAMBURG: South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 138,000 tonnes of corn, European traders said on Tuesday.
Tender deadline is also Tuesday, Feb. 26.
Yellow corn equivalent to U.S. number 3 grade or better was sought in two consignments of between 45,000 and 69,000 tonnes.
The first consignment was sought for arrival in South Korea around July 5. Shipment was sought during June 2-21 if sourced from the U.S. Pacific Northwest coast, between May 13 and June 1 if sourced from the U.S. Gulf or east Europe, during May 8-27 if from South America or between May 18 and June 6 if from South Africa.
The second consignment was sought for arrival around July 15. Shipment was sought between June 12 and July 1 if sourced from the U.S. Pacific Northwest coast, between May 23 and June 11 if sourced from the U.S. Gulf or east Europe, between May 18 and June 6 if from South America or between May 28 and June 16 if from South Africa.
Chicago Board of Trade corn futures for front-month delivery fell 1.1 percent on Monday on technical selling and spillover pressure from sharply lower wheat.
NOFI purchased 69,000 tonnes of corn in its previous tender on Feb. 21 at $202.23 c&f plus an extra $1.25 a tonne surcharge for additional port unloading.
Comments
Comments are closed for this article.