European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought approximately 133,000 metric tonnes of animal feed corn at an international auction on Tuesday.

Two consignments of corn were purchased.

The estimated price was $236.19 per ton, cost and freight included. Plus a $1.50 surcharge per ton for port unloading. The seller was thought to be Cofco, a trading house.

The second purchase was made at an estimated price of $235.99 per ton, c&f. Plus a $1.25 surcharge per ton for port unloading. Seller was thought to be Pan Ocean.

South Korea is aiming to import corn in March 2025. The reports reflect the assessments of traders, and future estimates of volumes and prices are possible. Michael Hogan is reporting.

(source: Reuters)