European traders reported that South Korea's Major Feedmill Group, or MFG, purchased approximately 68,000 metric tonnes of animal feed corn at an international auction on Wednesday. The group was looking for up to 140,000 metric tons only from South America and South Africa.

A consignment of a truck was purchased for an estimated cost and freight (c&f), plus a surcharge of approximately $1.25 per ton to cover additional port unloading.

Seller is believed to be Bunge trading house with corn arriving in South Korea around Nov. 15.

A second consignment that was to arrive around November 10th, but which had been sought out in the tender, has not yet been purchased.

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

(source: Reuters)