European traders reported that the Major Feedmill Group of South Korea (MFG) purchased approximately 140,000 metric tonnes of animal feed corn at an international auction on Wednesday.

Initial confusion arose over the exact volume purchased. The two consignments were both purchased from CHS.

A consignment of goods was purchased for an estimated cost and freight per ton (c&f), plus an extra surcharge of approximately $1.50 per ton to cover additional port unloading.

A second consignment of cargo was purchased for an estimated $235.22 per ton, plus an extra surcharge of approximately $1.50 per ton to cover additional port unloading.

The seller was free to offer a tonnage within this range.

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

(source: Reuters)