South Korea’s MFG bought 65,000 tons feed corn from US in private deal

HAMBURG: South Korea’s Major Feedmill Group (MFG) bought about 65,000 metric tons of animal feed corn in private deal on Friday expected to be sourced from the United States, European traders said on Monday.

One consignment was bought an estimated $244.95 a ton cost and freight included (c&f) plus a $1.50 a ton surcharge for additional port unloading for arrival in South Korea around June 20. Seller was believed to be trading house Posco.

Shipment was sought between May 1 and May 31 if sourced from the US Pacific Northwest coast, which traders expected.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.