European traders reported that the Korea Feed Association (KFA), a South Korean organization, purchased approximately 131,000 metric tonnes of animal feed corn at an international auction on Wednesday. The KFA was seeking up to 136,000 metric tons.

The U.S.A., South America, or South Africa were all acceptable sources.

The KFA Incheon Section purchased it in two consignments, for arrival in South Korea January 2026. It cost approximately $234.90 per ton (cost and freight included).

CHS, a trading house in South Korea, was reported to have purchased a consignment of 65,000 tonnes from a company that bought the goods.

The consignment is to be shipped between November 27 and December 16 if it comes from the U.S. Pacific Northwest Coast, or between November 7 and November 26 if it comes from the U.S. Gulf. It can also come from South America between November 2 and November 21. Or, from South Africa between November 17-December 6.

Olam has purchased a second shipment of approximately 66,000 tonnes for delivery in South Korea on or around January 30.

The second shipment was requested between December 22 and January 10 if corn comes from the U.S. Pacific Northwest Coast, between December 2 and December 21 if it comes from the U.S. Gulf coast, between November 27-December 16, if coming from South America, or between December 12 to December 31 if coming from South Africa.

Traders said that they believed European/Black Sea corn would be excluded from the bid. Feed Buyers Group is another name for the KFA Incheon section.

The reports reflect the assessments of traders. Further estimates on prices and volume are possible in the future. (Reporting and editing by Louise Heavens, Michael Hogan)

(source: Reuters)