South Korea’s NOFI buys estimated 136,000 T corn, traders say

Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 136,000 metric tons of animal feed corn to be sourced optionally from the United States, South America or South America in an international tender on Tuesday seeking up to 207,000 tons, European traders said.

It was bought in two consignments at an estimated $239.99 and $243.99 a ton cost and freight (c&f) included, with some also bought at a premium over Chicago corn futures, they said. The purchase has an additional $1.50 a ton surcharge for additional port unloading.

Seller of both consignments was said to be trading house Olam, with corn arrival in South Korea in January 2025.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

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Tags: United States, South America, volumes, animal feed corn, consignments, NOFI, South Korea, prices