South Korea's MFG buys about 70,000 T corn in tender

HAMBURG: South Korea's Major Feedmill Group (MFG) purchased about 70,000 tonnes of optional-origin corn thought likely to be sourced from the United States in an international tender which closed on Friday, European traders said.

Shipment was between March 22 and April 10 from the US Pacific North West coast for arrival in South Korea around April 25, traders said.

The corn was bought at $193.08 a tonne c&f plus a $1.00 a tonne surcharge for additional port unloading, they said.

The seller was said to be Japanese trading house Itochu.

One trader said the precise total bought was 68,000 tonnes.