European traders estimated that the lowest price offered by Major Feedmill Group of South Korea (MFG) in its international tender to purchase up to 70,000 tons of animal feed grain on Friday was $234.40 per metric ton, c&f.

Pan Ocean, a trading house, submitted an offer for 65,000 tonnes to be sourced anywhere in the world. The extra charge of $1.25 per ton is for port unloading.

Traders said that no purchase had been reported yet, and offers were still being considered. The bid calls for corn to arrive in South Korea before January 10, 2026.

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

(source: Reuters)