Major Feedmill Group of South Korea (MFG) bought about 60,000 tons of soymeal on Wednesday in a private transaction, without an international tender.

The estimated cost and freight per ton was $373.42, including the surcharge for port unloading. Trading house Olam was thought to be the seller.

Arrival in South Korea was scheduled for around June 14, 2025. If sourced from South America, the shipment was made between April 15 and May 5, if it came from China between June 14 and 26 or if it came from the Pacific Northwest Coast of America between May 10 to 30.

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

In a Wednesday international auction, Olam was also the seller. The South Korean importer NOFI purchased 60,000 tons of soybean meal. Michael Hogan reports.

(source: Reuters)