South Korea's Feed Leaders Committee (FLC) acquired around 65,000 metric tons of animal feed corn expected to be sourced from South America or South Africa in a private deal on Friday without issuing an global tender, European traders said.

The corn was bought at an estimated $247.49 a lot expense and freight (c&& f) included with an extra $1.50 a tonne additional charge for additional port discharging. Seller was thought to be trading home Cofco.

If sourced from South America, delivery is in between Aug. 12-Aug. 31 and from South Africa between Aug. 22-Sept. 10 for arrival in South Korea around Oct. 10. If sourced from South Africa only 55,000 metric loads require be supplied.

Traders stated rising wheat rates due to concerns of weather damage in leading exporter Russia have produced need for more affordable corn. South Korean animal feed maker NOFI bought an estimated 137,000 tons on Friday and South Korea's Major Feedmill Group