Major Feedmill Group of South Korea (MFG) bought 68,000 metric tonnes of animal feed corn on Wednesday in a private transaction without holding an international tender.

The estimated cost and freight was $234.80 per ton plus an additional $1.50 for port unloading. It was anticipated that the product would be purchased from either South America, South Africa or the United States.

Cargill, the trading company, is said to have purchased corn for South Korea. It will arrive around January 20, 2026.

The corn was shipped between December 12 to December 31 if it came from the Pacific Northwest Coast of the United States or between November 17 to December 6 if it came from South America.

Only 55,000 tonnes of South African sourced sand is required.

The agreement followed the purchase of 131,000 tonnes of corn by South Korean importer Korea Feed Association in an international auction on Wednesday.

The reports reflect the assessments of traders. Further estimates on prices and volume are possible in the future. (Reporting and Editing by Frances Kerry.)

(source: Reuters)