Adds detailed purchase breakdown, sellers
HAMBURG, Jan 14 (Reuters) – South Korea’s Major Feedmill Group (MFG) purchased about 198,000 tonnes of corn in an international tender which closed on Friday, European traders said.
The corn was bought in three consignments.
One consignment of 68,000 tonnes to be sourced from worldwide origins was said to have been sold by trading house Bunge at $328.20 a tonne c&f plus a $1.75 a tonne surcharge for additional port unloading. The corn is for arrival in South Korea around April 30.
A second consignment of 65,000 tonnes also to be sourced from worldwide origins was said to have been sold by trading house Pan Ocean at $328.00 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading. The corn is for arrival in South Korea around May 3.
A third consignment of 65,000 tonnes expected to be sourced from South America or South Africa was said to have been sold by trading house Cofco at $327.69 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading. The corn is for arrival in South Korea around May 8.
The tender continues brisk demand from Asian importers for corn in early January after prices fell from their recent peak in December, with Korean buyers NOFI and KFA together purchasing almost 260,000 tonnes on Tuesday. GRA/TEND
Chicago corn futures fell again weaker on Thursday on expectations that rains will benefit crops in dry areas of South American crop regions. [nL1N2TT2CR
(Reporting by Michael Hogan, editing by Jason Neely)
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