Major Feedmill Group of South Korea (MFG) bought an estimated 133,000 tons of animal feed in a private transaction on Wednesday, without issuing a tender to the international market.

You can source the corn from a variety of origins around the world.

All of it was purchased at an estimated cost and freight rate (c&f), plus $1.50 per ton for port unloading.

Posco is said to have bought a 65,000-ton consignment that was due to arrive in South Korea on December 14. CHS is said to have bought a second 68,000-ton consignment, due to arrive in South Korea on December 20, for arrival around December 14.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

The MFG issued an international tender for the purchase of around 70,000 tonnes of feed corn, which closed on Thursday. Michael Hogan is reporting.

(source: Reuters)