HAMBURG: South Korea’s Feed Leaders Committee (FLC) purchased around 65,000 metric tons of animal feed corn in a private deal on Friday without issuing an international tender, European traders said on Monday.
The corn was expected to be sourced from either South America or South Africa.
It was believed to have been purchased at an estimated $243.49 a ton cost and freight (c&f) included with an additional $1.50 a ton surcharge for additional port unloading. Seller was believed to be trading house CHS.
Corn down, set for second weekly loss as ample supply weighs
It was for arrival in South Korea around July 30 with shipment between May 20 and June 20. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
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