HAMBURG: South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 138,000 tonnes of animal feed corn to be sourced from optional origins, European traders said on Monday. The tender also closes on Monday, July 12, they said.
Two other Korean import groups, the KFA and MFG, also issued international tenders for corn on Monday. Traders said a 12% fall in Chicago corn prices last week coupled with uncertainty about market trends ahead of a major US Department of Agriculture (USDA) world crop report later on Monday sparked Asian purchase interest.
NOFI sought yellow corn equivalent to US number 2 grade or better in two consignments of between 45,000 to 69,000 tonnes with the seller free to decide the volume to be offered inside this range. The first consignment is sought for arrival in South Korea around Oct. 25.
If sourced from the US Pacific Northwest coast, shipment of the first consignment is between Sept. 22 and Oct. 11, if from the US Gulf or east Europe between Sept. 2 and Sept. 21, if from South America between Oct. 28 and Sept 16 or from South Africa between Sept. 7 and Sept. 26. The second consignment is sought for arrival in South Korea around Nov. 5.
If sourced from the US Pacific Northwest coast, shipment is between Oct. 3 and Oct. 22, if from the US Gulf or east Europe between Sept. 13 and Oct. 2, if from South America between Sept. 8 and Sept. 27 or from South Africa between Sept. 18 and Oct. 7.
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