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 was bought in three consignments of 68,000 tons each for arrival in South Korea by February 2026. It was to come from either the United States, South America, or South Africa.

The estimated cost of a ton (c&f) was $243.98.

A third consignment due to arrive around 28 February was purchased at an estimated price of $245.16 per ton c&f.

For additional port loading, all consignments are subject to a surcharge of $1.50 per ton. All the corn sold was believed to have been by CHS, a trading house.

On Tuesday, traders gave specifics about possible shipping periods and possible origins.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

Importers are concerned about the price rises if U.S. president Donald Trump signs a trade agreement with China in this week. This will allow China to buy large quantities of grain and soy beans from the United States.

The trade war between China and the United States has virtually stopped Chinese purchases of U.S. products. (Reporting and editing by Michael Hogan)

(source: Reuters)