Major Feedmill Group of South Korea purchased 63,000 metric tonnes of soymeal from South America on Monday in a private transaction without an international tender, European traders reported.

If the seller chooses to supply Chinese or American soymeal, only 50,000 tonnes are required.

Only 45,000 tonnes of Argentinean sourced ethanol is required.

The estimated cost and freight per ton was $349.97, including the surcharge for port unloading. It was thought that the seller would be Cofco, a trading house.

Soymeal should have arrived in South Korea by January 30.

If sourced from South America, the shipment was made between November 10 and Dec. 15.

The reports reflect the assessments of traders. Further estimates on prices and volume are possible in the future. (Reporting and editing by Kirby Donovan, Michael Hogan)

(source: Reuters)