Major Feedmill Group of South Korea (MFG) bought about 70,000 tons of animal feed in a private deal without issuing a tender on Wednesday, European traders reported.

The corn could be sourced from South America, the United States or South Africa. This deal is in addition to the 68,000 tons corn that MFG purchased on Wednesday.

The second deal was for 70,000 tons at the same estimated cost and freight rate of $234.80 per ton. Seller was trading house Dreyfus.

Arrival of the 70,000 tons in South Korea is expected to be around January 30th, 2026. If the shipment comes from the U.S. Pacific Northwest Coast, it is between December 20 and January 9.

The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.

(source: Reuters)