South Korea's NOFI bought about 65,000 tons corn in private deal on Friday, traders say

HAMBURG: Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) purchased around 65,000 metric tons of animal feed corn in a private deal on Friday without an international tender being issued, European traders said on Monday.

The corn was purchased at an estimated outright price of $263.58 a ton cost and freight (c&f) included plus an extra $1.75 a ton surcharge for additional port unloading. Seller was said to be trading house Posco.

The corn was for arrival in South Korea around August 20.

If sourced from the US Pacific Northwest coast, shipment was between July 1 and July 31 Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.