Major Feedmill Group of South Korea (MFG) bought an estimated 60,000 tons of soymeal in an international auction on Thursday. The soymeal was expected to come from either South America, or the United States.

The estimated cost and freight per ton was $455.49, including the surcharge for port unloading. The seller was believed to have been Bunge Trading.

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

They said that if the product is sourced in South America, then 60,000 tons of it should be provided, and 50,000 tonnes if it comes from the United States.

The MFG was looking for a consignment to arrive around November 20.

Shipping was requested between Sept. 23 - Oct. 12 for soymeal sourced from South America; between Nov. 1 - Nov. 20 for China; and between Oct. 18 - Nov. 6 from the U.S. Pacific Northwest Coast. Michael Hogan is reporting.