According to European traders, the Korea Feed Association in South Korea purchased approximately 65,000 metric tonnes of animal feed corn that was expected to come from the United States on Friday in a private transaction without issuing a tender.

The KFA Incheon section is believed to have purchased the feed from Mitsui for an estimated $235.98 per ton, cost and freight included. Incheon is also known as the Feed Buyers' Group.

The shipment was to arrive in South Korea between December 8 and January 8, 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)