HAMBURG: South Korea's Major Feedmill Group (MFG) purchased about 140,000 tonnes of corn in an international tender on Wednesday at the lowest price of $215.80 a tonne c&f, European traders said on Thursday
Traders had reported the purchase in outline on Wednesday but detailed prices were unavailable.
Traders confirmed the total volume purchased was around 140,000 tonnes.
The yellow corn was purchased in two consignments of up to 70,000 tonnes, which can be sourced from any origin worldwide, traders added
The first consignment for arrival around Aug. 26 was said to have been bought from trading house Pan Ocean at $215.99 a tonne c&f, including surcharge for additional port unloading.
The first consignment was sought for shipment for July 23 to Aug. 11 if sourced from the US Pacific North West Coast, July 3 to July 22 if from the US Gulf, July 3 to July 22 if from the Black Sea region, July 8 to July 27 from South Africa and June 28 to July 17 if from South America.
The second consignment for arrival around Sept. 4 was said to have been purchased from trading house Dreyfus at $215.80 a tonne c&f, also including surcharge for additional port unloading.
The second consignment was sought for shipment between Aug. 1 and Aug. 20 if sourced from the US Pacific North West Coast, July 12 to July 31 if from the US Gulf, July 12 to July 31 if from the Black Sea region, July 17 to Aug. 5 from South Africa and July 7 to July 26 if from South America.
Traders said the MFG requested offers below $220 a tonne c&f in the tender .
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