South Korea's Major Feedmill Group (MFG) purchased about 138,000 tonnes of corn expected to be sourced from South America in a private deal on Thursday without an international tender being issued, European traders said on Friday.
Some 69,000 tonnes was purchased at an estimated $170.98 a tonne c&f plus a surcharge of $1.25 a tonne for additional port unloading for shipment from South America between Aug. 9 and Aug. 28 for arrival in South Korea around October 7.
Seller was believed to be trading house Dreyfus.
Another 69,000 tonnes was purchased at an estimated $171.99 a tonne c&f plus a surcharge of $1.25 a tonne for additional port unloading for shipment from South America between Sept. 1 and Sept. 20 for arrival in South Korea around October 30. Seller of the second consignment was believed to be trading house Glencore.
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