The European traders reported that the South Korean Major Feedmill Group (MFG), a company that specializes in animal feed, purchased an estimated 204,000 metric tons of corn on Friday.

The?purchased?was?in three consignments?of?around 68, 000 tons for arrival in April in South Korea.

Two consignments allegedly?were?purchased from the?trading company CHS, both at a cost of $249.60 per ton and freight included. (c&f), plus a $1.50 surcharge for port unloading.

One was sold to?Bunge for an estimated $249.94 per?ton C&F plus a $1.25 surcharge per?ton for?additional unloading at the port.

The reports?reflect the assessments of traders, and future estimates?of volumes and prices are possible. Michael Hogan, reporting from Hamburg and editing by

(source: Reuters)