South Korea's Major Feedmill Group (MFG) bought an approximated 134,000 metric tons of animal feed corn in an international tender on Friday, European traders stated.

The tender had actually sought corn sourced from the United States, South America or South Africa just.

One 66,000 lot consignment was bought at an approximated $ 235.73 a lot expense and freight (c&& f), plus a $1.50 a heap surcharge for extra port dumping for April 25 arrival in South Korea. The seller was stated to be trading house ADM.

A 2nd 68,000 ton consignment was bought at an estimated $ 245.49 a load c&& f, plus a $1.50 a ton surcharge for extra port unloading for May 20 arrival in South Korea. The seller was stated to be trading house Olam.

Reports reflect evaluations from traders and further estimates of prices and volumes are possible later on.

Shipment of the April arrival consignment was sought between March 22 and April 10 if sourced from the U.S. Pacific Northwest coast, for March 2-21 from the U.S. Gulf, between Feb. 25 and March 16 from South America and for March 7-26 if from South Africa. If the seller decides to source corn from South Africa, just 55,000 loads need be provided.

The May arrival consignment was looked for sourced just from South America or South Africa, with delivery between March 22 and April 10 from South America or April 1-20 from South Africa. If the seller chooses to source corn from South Africa, only 53,000 heaps require be supplied.

The tender continues large-scale feed grain purchasing by Korean importers this week while issue remains over dryness harmful corn crops in Argentina and ahead of world agricultural supply and need forecasts plus U.S. inventory and U.S. winter wheat sowings from the U.S. Department of Agriculture (USDA). in the future Friday.

Traders report that almost 600,000 lots of corn and feed. wheat has actually been acquired by Korean importers today in the past. Friday's tender.

(source: Reuters)