Major Feedmill Group of South Korea (MFG) bought about 60,000 tons of soymeal from South America on Wednesday in a deal that was not subject to an international tender, traders reported.

The estimated cost and freight per ton was $346.40, including the surcharge for port unloading. The seller was thought to be Cargill, a trading house.

Arrival in South Korea was scheduled for September 15th. If sourced from South America, the shipment was scheduled to arrive between July 9 and august 7.

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

In a Wednesday international tender, South Korean importer NOFI purchased 60,000 tons soymeal. Michael Hogan reports.

(source: Reuters)