The South Korean Major Feedmill Group (MFG), without issuing a tender internationally, purchased?68,000 tons of animal feed corn in a second?private?deal on?Wednesday. The MFG had already purchased 65,000 tons in a private deal earlier on Wednesday.

The second consignment of 68,000 tons was purchased?at a cost and freight rate (c&f), estimated at $257.84 per ton, plus a $1.50 surcharge per ton for "additional ports?unloading". The second consignment of 68,000 tons was bought?at an estimated $257.84 a ton cost and freight (c&f)?plus a $1.50 - per ton surcharge for 'additional port?unloading.

If the shipment is originating from the U.S. Pacific Northwest Coast, as some traders had expected, it will arrive between June 17th and July 16th.

After the announcement of a ceasefire, prices fell and a brisk Korean corn purchase continued on Wednesday. The reports?reflect traders' assessments and?further estimations?of volumes and prices are possible later. Reporting by Michael Hogan, Hamburg. Editing by

(source: Reuters)