HAMBURG - South Korea’s Feed Leaders Committee purchased approximately 130,000 metric tonnes of animal feed corn from optional origins at an international auction on Thursday, European traders reported.

They said that a 65,000-ton consignment of grain was purchased from Bunge for an estimated cost and freight price (c&f), plus $1.25 per ton as a surcharge to cover additional port unloading.

The second consignment of 65,000 tons was purchased from CHS at an estimated cost and freight price of $248.25 per ton plus a surcharge of $1.50 per ton for port unloading. Additionally, 20,300 tons were also bought with a premium 182.00 U.S.cents a bushel over the Chicago corn contract March 2026, they stated.

All corn purchased for arrival to South Korea on or around January 30th 2026. A February corn consignment, also requested in the tender, was not purchased.

The consignment purchased for arrival in January was to be shipped between December 12 and January 10 if it came from the U.S. Pacific Northwest Coast, between November 22 and December 21 if it came from the U.S. Gulf coast, or between November 17-December 16, if coming from South America, or between December 2 and December 31 if coming from South Africa.

The traders said that Asian buyers were sparked by the expectation that the U.S. Department of Agriculture would reduce its forecasts of U.S. Corn harvest yields this Friday, in its first crop estimate since September due to the U.S. Government shutdown. Prices could be supported by forecasts of lower crop yields. (Reporting and editing by Arun K. Koyyur in Hamburg. Reporting by Michael Hogan)

(source: Reuters)