The Feed Leaders Committee of South Korea (FLC) bought at least 130,000 tons of animal feed grain from optional origins on Tuesday in a global tender that sought up to 138,000 tonnes, European traders reported. The trading house CHS purchased a consignment ranging from 65,000 to 70,000 metric tons at an estimated cost and freight of $247.72 per ton plus $1.50 for port unloading, and also at a premium price of 192 U.S.cents a bushel over the Chicago corn contract of March 2026.

Arrival of corn in South Korea is expected to be around April 4, 2026. This is slightly later than originally planned for March. Sellers must declare the volume of corn to be delivered by January 15th.

The second consignment of 65,000 tons was purchased from CJ International for $248.02 per ton, c&f. Plus a $1.20 surcharge per ton for port unloading.

Arrival of the consignment in South Korea was scheduled for April 9.

The reports reflect the assessments of traders, and further estimates on prices and volume are possible later. (Reporting and editing by Sonia Cheema in Hamburg. Michael Hogan is reporting from Hamburg)

(source: Reuters)