South Korea’s MFG buys 67,000 tonnes of corn

HAMBURG: South Korea’s Major Feedmill Group (MFG) has purchased an estimated 67,000 tonnes of animal feed corn to be sourced from South America in an international tender seeking up to 70,000 tonnes on Thursday, European traders said.

Some 49,600 tonnes was bought at an estimated outright price of $343.59 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading.

The rest was bought at an estimated premium of 198.50 US cents c&f a bushel over the Chicago May 2023 corn contract plus a $1.25 a tonne surcharge for additional port unloading.