According to European traders, the Busan section of South Korea's Korea Feed Association (KFA), which is based in Busan, purchased 66,000 metric tons of animal feed corn on Friday. No international tender was issued. This purchase was made after a separate deal, which took place on Friday, between the Incheon section of the Korea Feed Association (KFA) and a buyer for 68,000 metric tons of 'corn.

KFA Busan's corn was reportedly 'purchased at an estimated outright price? of $251.65?a ton, cost and freight included?plus an additional $1.25 per ton for port unloading. The seller was thought to be the 'trading company Cargill.

Arrival of the corn in South Korea was scheduled for?April 28. If the corn was sourced off of the U.S. Pacific Northwest coast, shipping took place between March 10 and?9; if it came from South Africa, only 50,000 tonnes were required.

The reports reflect the?assessments of traders, and it is still possible to estimate prices and volumes later. Reporting by Michael Hogan, Hamburg. Editing by

(source: Reuters)