South Korea's NOFI buys about 60,000 tonnes feed wheat

• The wheat was purchased at around $239 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading.
• The wheat was sought for arrival around May 1, 2020.

HAMBURG: South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI) purchased about 60,000 tonnes of feed wheat to be sourced from optional origins in an international tender which closed on Tuesday, European traders said.

The wheat was purchased at around $239 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading, they said. Seller was believed to be trading house Pan Ocean.

The wheat was sought for arrival around May 1, 2020.

If sourced from the US Pacific Northwest coast, Australia or Canada, shipment is sought between March 29 and April 17.

If sourced from the US Gulf coast or east Europe, shipment is sought between March 9 and March 28. If sourced from South America, shipment is sought between March 4 and March 23.

NOFI's last reported purchase in international markets was 65,000 tonnes of corn in a private deal on Nov. 29.

On Dec. 3, NOFI rejected all offers and made no purchase in an international tender for 60,000 tonnes of soymeal.