The leading South Korean feedmaker Nonghyup Feed Inc.?purchased 68,000 metric tonnes?of animal feed corn?in a private deal on Wednesday evening without an international bid being issued, European traders reported on Thursday.

The corn was reportedly purchased by NH Feed, a NOFI unit at an estimated 'outright price' of $257.88 per ton with freight included. Plus an additional $1.50 per ton surcharge for port unloading.

NOFI's corn is expected to arrive in South Korea on August 1. If the corn is sourced from U.S. Pacific Northwest coast, then shipment will be between June 14 and July 12

Seller is believed to be trading firm?CHS. Reports are based on assessments by traders, and future estimates of prices and volumes may still be possible.

After the ceasefire in the Iran War,?Korean importers continued to purchase grain at a rapid pace on Wednesday. Michael Hogan, reporting from Hamburg and editing by)

(source: Reuters)