European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc. purchased up to 60 000 metric tons soymeal at an international auction on Friday.

The seller could also supply the product from the United States, or China.

The estimated price was $405.49 per ton, cost and freight included. Plus a $1.50 surcharge per ton for port additional unloading. Some traders estimated the price to be slightly higher.

Trading house Cofco was suspected to be the seller. Soymeal in a consignment between 40,000 and 60,000 metric tonnes was wanted for delivery to South Korea by March 20, 2025.

The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.

(source: Reuters)