HAMBURG: South Korean importing group Korea Corn Processing Industry Association (KOCOPIA) purchased about 60,000 tonnes of corn expected to be sourced from the United States in a deal on Thursday, European traders said on Friday.

The number 2 yellow corn was bought at $202.47 a tonne c&f including surcharge for additional port unloading.

The corn is for arrival in Korea around July 25 with shipment from the US Pacific Northwest coast between June 21 and July 10.

Seller was believed to be trading house Posco.