European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought approximately 195,000 metric tonnes of animal feed corn on Wednesday in an international bid seeking up to a maximum of 207,000 tons.

The corn can be purchased from anywhere in the world.

A consignment due to arrive around November 20th was purchased at a cost and freight estimate of $232.99 per ton plus $1.50 for port unloading. Seller was thought to be CJ International.

CHS was able to sell two more consignments. The purchase of one consignment for delivery around November 25 cost an estimated $232.27 per ton, c&f. This price was without any surcharges for port unloading.

One for arrival around the 10th of December was purchased at an estimated outright cost of $232.27 per ton c&f, plus a surcharge of $1.50 per ton for port unloading. It also came with a premium price of 179.00 U.S. Cents a bushel compared to the Chicago December corn contract.

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

(source: Reuters)