European traders reported on Tuesday that the Major Feedmill Group of South Korea (MFG) had issued a tender for up to 140.000 metric tons animal feed corn.

The deadline to submit price offers is on Wednesday, July 23, 2013.

The seller is free to offer a tonnage within this range.

First consignment to arrive in South Korea by November 5 is sought from September 27-October 16, if it comes from the U.S. Pacific Northwest Coast, or between September 7-26 if it comes from the U.S. Gulf.

Second consignment to arrive in Korea by November 15th was requested for shipment between October 7 and 26 if it came from the U.S. Pacific Northwest Coast, between September 17 and 6 if it came from the U.S. Gulf coast, September 12 and 1 if it came from South America, or between September 27-October 16, if coming from South Africa.

The offers were made in both outright costs per ton and freight included (c&f), or at a higher price than the Chicago December corn contract.

The traders said that Asian demand is being sparked by the fact that Chicago corn futures are still close to the contract lows reached last week due to improved harvest weather in the U.S. (Reporting and editing by Kirby Donovan, with Michael Hogan)

(source: Reuters)