South Korea purchased feed corn
On December 17, South Korean company Major Feedmill Group (MFG) held an international auction to purchase 210,000 tonnes of feed corn, Reuters reported.
According to preliminary data, 136,000 tonnes of corn were purchased from Olam and CHS at a price of $253.33 per tonne on a C&F basis, plus a $1.50 per tonne surcharge for unloading at a second port.
Delivery to South Korea is expected in April 2026.
Traders believe negotiations are ongoing and MFG may contract more corn at the auction.
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