Last week, South Korea's FLC purchased about 65,000 t corn from the U.S.
The Feed Leaders Committee of South Korea (FLC) purchased around 65,000 tons of animal feed grain expected to come from the United States, in a private transaction late last week. This was done without launching an international tender.
They said that although the deal was reported to have been completed on April 3, details were revealed only on Thursday.
The corn was bought at a cost of $248.49 per ton, including freight. There was also an extra $1.50 surcharge per ton for port unloading. The seller was thought to be Mitsui, a trading house.
The shipment was scheduled to arrive in South Korea between July 31 and August 1 with a departure from the Pacific Northwest Coast of the United States between June 16 and August 1.
The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.
(source: Reuters)
