European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought approximately 204,000 metric tonnes of animal feed corn on Tuesday in a global tender that sought up to 207,000 tonnes.

The corn, which was to arrive in South Korea by February 2026 in three consignments, was expected to come from either the United States or South America.

The corn was purchased at an estimated cost of $243.98 per ton, plus $245.16 for freight and port charges (c&f). There was also a surcharge of $1.50 per ton to cover additional port loading. Trading house CHS was thought to be the seller of all corn.

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

(source: Reuters)