European traders reported that the Korea Feed Association (KFA), which is a trade association for animal feed, purchased approximately 66,000 metric tonnes of animal feed corn at an international auction on Tuesday. The corn was expected to come from South America.

The estimated price was $233.49 per ton c&f. It was thought that the seller was trading house ADM.

Corn was requested to arrive in South Korea as a single consignment by November 30. The corn was only to be unloaded in one port, so there was no need for a surcharge.

The KFA's Incheon Section, also known as Feed Buyers' Group, issued the tender.

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

(source: Reuters)