South Korean corn tender prices remain above $280/t C&F

South Korean importers continue to purchase feed corn at prices above $280/t C&F. At a tender on October 7, Nonghyup Feed Inc. (NOFI) bought around 134 thsd tons of corn of optional origin for delivery in January 2027.

The corn was booked in two lots. Mitsui sold 68 thsd tons at $283.85/t C&F, while ADM sold another 66 thsd tons at $284.2/t C&F. Both contracts include an additional unloading charge of $1.5/t.

At a tender on October 8, Major Feedmill Group purchased another 135 thsd tons of corn from the US, South America or South Africa. A 67 thsd ton lot was booked from CJ International at $283.6/t C&F, while Bunge sold 68 thsd tons at $283.66/t C&F, with delivery scheduled for late January to early February 2027.

Corn prices delivered to South Korea therefore remain elevated. Last season they were mostly in the $240–250/t C&F range, while this season they have consistently remained above $280/t C&F.

High import prices are being supported by tighter US supplies, stronger futures and restrictions on grain shipments from Black Sea ports in Ukraine and Russia. If prices remain above $280/t C&F, they could continue to support export values for US and South American corn.

Tags: tender, corn, South Korea, prices