HAMBURG: Leading 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 Thursday.
The deadline for submission of price offers in the tender is also Thursday, Jan. 12. East European origin is excluded from the tender. The corn in South Korea is sought in two consignments of up to 69,000 tonnes. Offers are sought both as a flat/outright price and at a premium over the Chicago May 2023 corn contract.
Corn from east Europe and Paraguay is excluded from the tender. The first corn consignment is sought for arrival in South Korea around April 15. If sourced from the US Pacific Northwest coast, shipment of the first consignment is for March 12-March 31, if from the US Gulf for Feb. 20-March 11, from South America for Feb. 15-March 6 or from South Africa between Feb. 25 and March 16.
The second corn consignment is sought for arrival in South Korea around April 25. If sourced from the US Pacific Northwest coast, shipment is for March 22-April 10, from the US Gulf for March 2-March 21, from South America for Feb. 25-March 16 or from South Africa between March 7 and March 26.
South Korea’s MFG tenders for up to 70,000 tonnes corn
Asian corn buying has been brisk in the past week, with purchasing by importers South Korea and Taiwan ahead of the US Department of Agriculture’s world crop forecasts later on Thursday which are expected to include cuts to Argentine soybean and corn crop estimates after drought.
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