HAMBURG: South Korea's Korea Corn Processing Industry Association (KOCOPIA) purchased about 55,000 tonnes of corn expected to be sourced from Brazil in an international tender on Monday, European traders said.

It was bought at $221.25 a tonne c&f including a surcharge for additional port unloading, they said.

The seller was believed to be trading house Posco International.

The tender had sought corn for arrival in South Korea around Oct. 25.

The tender sought yellow corn equivalent to US number 2 grade or better.

Shipment was sought between Sept. 20 and Oct. 10 if sourced from the US Pacific Northwest coast, for Sept. 1-20 if sourced from the US Gulf; between Aug. 25 and Sept. 15 if from Brazil or for Sept. 1-20 from other origins.