The Feed Leaders Committee of South Korea (FLC) bought around 65,000 tons of animal feed in a private transaction on Monday, without launching an international tender. European traders confirmed this on Tuesday.

The United States and South America were expected to supply the product.

The corn cost was estimated at $238.49 per ton, including freight and a $1.50 surcharge per tonne for port unloading. Seller was thought to be Posco trading house.

Arrival in South Korea was scheduled for around February 28, 2025. If the shipment originated from the U.S. Pacific Northwest Coast, it was made between Jan. 15 to Feb. 13

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

(source: Reuters)