The Feed Leaders Committee of South Korea (FLC) bought around 68,000 metric tonnes of animal feed corn from South America on Tuesday in a private transaction without holding an international tender.

The corn cost was estimated at $232.99 per ton, including freight. There was an additional surcharge of $1.50 per tonne for port unloading. The seller was thought to be Viterra, a trading house.

If the shipment comes from South America, as is expected, it will arrive in South Korea between September 25 and October 25, with an arrival date of around December 5.

Korea Feed Association, a South Korean company, had purchased 66,000 tons corn at an international auction earlier that day.

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

(source: Reuters)