Major Feedmill Group, a South Korean company, is said to have rejected every offer and not made any purchase at an international auction to buy animal feed corn up to 70,000 tons on Friday.

Prices were considered too high. The lowest estimate was $234.40 per ton, cost and freight included (c&f), plus $1.25 for each additional ton of port unloading for 65,000 tonnes.

The tender called for corn to arrive in South Korea no later than January 10, 2026. On Thursday, the MFG participated in a South Korean corn purchase of 130,000 tonnes.

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

(source: Reuters)