The Feed Leaders Committee of South Korea (FLC) bought between 66,000 and 68,000 metric tonnes of animal feed corn that was expected to come from the United States on Thursday in a late private deal without issuing a tender to international buyers, European traders reported on Friday.

The corn was bought at a cost-plus-freight (c&f), or estimated price, of $232.99 per ton. It also included a premium over Chicago Corn Futures. Both prices were accompanied by a $1.50 surcharge per tonne for port unloading.

The seller was thought to be CHS trading house. Arrival in South Korea was scheduled for around November 15.

The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.

(source: Reuters)