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.

Only corn from South America and South Africa is acceptable.

The deadline to submit price offers is on Wednesday, 6 August. The corn will be delivered in two consignments, each of which is 55,000-70,000 tons. Both are scheduled to arrive in South Korea by November.

First consignment to arrive in South Korea by November 10th was requested for shipment between September 7-26 from South America, or between September 22-11 from South Africa.

Second consignment to arrive in South Korea by November 15th was requested for shipment between September 12th and October 1st if it came from South America, or between September 27th and October 16th if it came from South Africa.

The price offers can be in the form of a per ton, cost with freight included (c&f), or a premium on the Chicago December corn contracts. (Reporting and editing by Sonia Cheema; Michael Hogan)

(source: Reuters)