Major Feedmill Group of South Korea (MFG) bought about 55,000 metric tonnes of animal feed wheat from anywhere in the world on Friday, without holding an international tender.

A consignment of goods was purchased for an estimated cost and freight (c&f), plus $1.50 per ton, as a surcharge to cover additional port unloading. Cargill was thought to be the seller.

Arrival of the corn in South Korea was scheduled for July 30. If the corn was sourced from Australia as some traders anticipated, then shipment would be between June 15 and August 15.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

On Thursday, the MFG purchased 204,000 tons animal feed corn from two international bids. Michael Hogan reports.

(source: Reuters)