European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc. purchased approximately 60,000 metric tonnes of soymeal at an international auction on Wednesday.

The estimated price was $379.49 per ton, cost and freight included. This includes a surcharge of an additional port deloading. Trading house Olam was thought to be the seller.

Soymeal is expected to arrive in South Korea by May 10, 2025.

They said that shipments were sought from South America between March 13 and 1 April, from China between April 21 and 10 May, and from the U.S. Pacific Northwest Coast between April 4 and 23 April.

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

(source: Reuters)