According to European traders, the Korea Feed Association in South Korea purchased approximately 65,000 metric tonnes of animal feed corn on Thursday in a private transaction without launching an international tender.

You can get corn from anywhere in the world.

The KFA Incheon section is believed to have purchased the feed from Posco for an estimated price of $259.90 per ton, cost and freight included. Incheon is also known as the Feed Buyers' Group.

Arrival of the corn was targeted for July 15th. If the corn is sourced from U.S. Pacific Northwest Coast, then shipment will be between June 1 to June 30.

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

(source: Reuters)