South Korea's MFG buys 206,000 tonnes of corn

• Some 68,000 tonnes was purchased from trading house Pan Ocean at an estimated $181.95 a tonne c&f plus a surcharge of $1.25 a tonne for additional port unloading.
• The consignment was for shipment from South America between July 11 and July 31 with arrival in South Korea around Sept. 10.

HAMBURG: South Korea's Major Feedmill Group (MFG) purchased an estimated 206,000 tonnes of corn expected to be sourced from South America in private deals on Thursday without an international tender being issued, European traders said.

Some 68,000 tonnes was purchased from trading house Pan Ocean at an estimated $181.95 a tonne c&f plus a surcharge of $1.25 a tonne for additional port unloading.

The consignment was for shipment from South America between July 11 and July 31 with arrival in South Korea around Sept. 10.

Another 69,000 tonnes was purchased from trading house ADM also at an estimated $181.95 a tonne c&f plus a surcharge of $1.25 a tonne for additional port unloading.

It was for shipment from South America between July 15 and Aug. 9 with arrival in South Korea around Sept. 18.

Another 69,000 tonnes was purchased from ADM at an estimated $180.74 a tonne c&f plus a surcharge of $1.25 a tonne for additional port unloading.

This consignment was for shipment from South America between Sept. 5 and Sept. 25 with arrival in South Korea around Nov. 5.

The consignments can be 5pc larger or smaller than the volumes given.