South Korea’s MFG, partner CAPI tender for up to 70,000 tons corn, traders say

HAMBURG: South Korea’s Major Feedmill Group (MFG) and its partner company Cargill Agri Purina (CAPI) have issued an international tender to purchase up to 70,000 metric tons of animal feed corn, European traders said on Monday.

The corn is sought from South America or South Africa only in one consignment of 55,000 to 70,000 tons, for arrival in South Korea around September 15.

The deadline for submission of price offers is Tuesday, May 19.

Two alternative shipment periods were sought, but traders said the consortium had indicated only one consignment would be bought.

One consignment was sought for shipment between July 13 and August 1 if sourced from South America or between July 28 and August 16 from South Africa.

Alternately, a consignment was sought for shipment between July 18 and August 6 if sourced from South America or between August 2 and August 21 from South Africa.

South Korea’s MFG tenders for up to 210,000 MT of corn

Offers were sought both in outright prices per ton, cost and freight included (c&f), and at a premium over the Chicago September 2026 corn contract, traders said.

The tender continues brisk corn purchasing by Korean importers in the past week.

Traders said some importers had delayed purchases in the hope that commodity prices would fall if a peace deal was reached between the United States and Iran, but a peace deal remains elusive.