South Korea buys 68,000 tonnes of corn

HAMBURG: South Korea's Major Feedmill Group (MFG) purchased about 68,000 tonnes of corn to be sourced from optional worldwide origins in a private deal on Friday without issuing an international tender, European traders said. The corn was purchased at an estimated $240.19 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading.

The grain is for arrival in South Korea around May 15, 2021. The seller was believed to be trading house CJ International. The seller is free to select the origin supplied. If sourced from the US Gulf, shipment is between March 22 and April 10, if from the US Pacific Northwest coast between April 11 and April 30.