HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased about 50,000 to 65,000 of animal feed wheat to be sourced from worldwide origins in a private deal on Tuesday without issuing an international tender, European traders said.
One consignment was purchased at an estimated $254.40 a ton cost and freight included (c&f) plus a $1.50 a ton surcharge for additional port unloading. It was believed to have been sold by trading house Cargill.
The corn was for arrival in South Korea around September 15. If sourced from the Black Sea region, shipment was between July 11 and August 11.
Wheat down 10-11 cents, corn down 6-7, soy down 5-6
Russia, China, Pakistan, Argentina and Denmark are excluded as origins. The volume to be supplied must be decided in the 50,000 to 65,000 range by May 31.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later. The MFG also bought animal feed corn in a separate international tender on Tuesday.
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