According to European traders, the Busan section of the Korea Feed Association in South Korea bought around 65,000 metric tons??of??animal feed???corn on Friday.

The corn was to be purchased at a cost of $251.05 per tonne, including freight and handling (c&f), plus an additional $1.00 for port unloading.

The corn is expected to arrive in South Korea on or around July 30. The seller was reported to be Pan Ocean trading house.

Shipping is expected to take place between June 11 and July 10 if the corn comes from the U.S. Pacific Northwest coast, as some traders had anticipated. Incheon's KFA'section', or the Feed Buyers' Group as it is also known, purchased 66,000 tonne of animal feed corn in a private deal Friday.

The reports reflect the 'assessments of traders' and further estimates on?prices, volumes, etc. are possible in the future. Michael Hogan, reporting from Hamburg and editing by

(source: Reuters)