Major Feedmill Group, a South Korean company, purchased approximately 68,000 metric tonnes of animal feed corn on Thursday. European traders confirmed this on Friday.

The expected origin was South America. Traders said that the amount of product supplied could vary depending on where it is sourced.

A consignment of corn was purchased at $241.50 per ton c&f, plus a $1.50 surcharge per ton for port unloading. The MFG had previously purchased corn from Cargill for an October arrival at the same price on Wednesday.

The consignment purchased on Thursday is believed to have been sold by Cofco, with an estimated arrival date of Nov. 10. If the shipment is from South America, it was made between September 1 and 30.

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