According to European traders, the Korea Feed Association in South Korea bought about 65,000 metric tonnes of animal feed corn in a private transaction on Wednesday. The corn was expected to come from either South America or the United States.

The Feed Buyers' Group of the KFA's Incheon Section, also known by its other name, the Feed Buyers' Group (FBG), purchased it from the trading house CHS for an estimated cost and freight included of $236.49 per ton.

Arrival of corn in South Korea is expected around Jan. 5, 2020. If coming from the Pacific Northwest Coast, shipment will take place between Nov. 20, and Dec. 20, 2025.

MFG, a Korean importer, had purchased corn in an international auction on Wednesday. Michael Hogan reports.

(source: Reuters)