According to European traders, the Busan section of South Korea's Korea Feed Association (KFA) purchased around 65,000 metric tonnes of animal feed corn on Tuesday in a private transaction without issuing a tender.

The corn can be purchased from the United States, South America, or South Africa at a cost and freight of $243.90 per ton plus a $1.00 surcharge per ton for port unloading.

Arrival of corn in South Korea is scheduled for June 7. The seller was allegedly Columbia Grain International.

Shipping is scheduled between April 19th and May 18th if the product comes from the U.S. Pacific Northwest coast. If the product is sourced from South Africa, or even the U.S. Only?55,000 tonnes are required.

The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan, reporting from Hamburg and editing by

(source: Reuters)