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Prices were regarded as too high, they said.
Lowest offer in final negotiations was $209.99 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading for US-origin corn.
Traders had reported the lowest initial offer at $210.48 a tonne c&f.
The tender from the KFA's Busan section sought corn in one consignment for arrival around May 30.