South Korea’s NOFI buys estimated 65,000 T corn

European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought approximately 65,000 metric tonnes of animal feed corn on Wednesday in an international bid seeking up to 138,000 metric tons.

The corn purchased was a single consignment that was to arrive in South Korea by September. It was only expected that the corn would be from South America and South Africa.

The estimated price was $234.46 per ton, cost and freight plus $1.50 for port unloading. The seller was thought to be Mitsui, a trading house.

A second consignment up to 69,000 tonnes, also requested in the tender, was not purchased. The reports reflect the assessments of traders, and future estimates on prices and volume are possible. Michael Hogan is reporting.

Tags: tender, corn, South Korea