South Korea’s FLC bought 65,000 tonnes corn on Friday

HAMBURG: South Korea’s Feed Leaders Committee (FLC) purchased about 65,000 tonnes of animal feed corn in a private deal on Friday expected to be sourced from the United States or South America without issuing an international tender, European traders said on Monday.

The corn was purchased at an estimated $337.99 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading.

Seller was believed to be trading house Mitsubishi.

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The corn was for arrival in South Korea around June 6. If sourced from the US Pacific Northwest coast, shipment is between May 1-May 20, if from the US Gulf between April 20- May 10 or from South America between April 15-May 5, they said. Reuters