Leading South Korean feedmaker Nonghyup Feed ?Inc. (NOFI), a leading South Korean feedmaker, purchased 68,000 metric tonnes?of animal food?corn? in a private transaction on Friday without a formal international tender being held, European traders reported on Monday.

The sourcing of the product was expected to come from either?the United States or?South America.

Corn was said to be 'purchased for an estimated?price? of $249.69?a ton, cost and freight included?plus an additional $1.50 per ton surcharge to cover port unloading. The seller was thought to be a trading house called CHS.

The corn arrived in South Korea on April 25. If the corn was sourced from U.S. Pacific Northwest Coast, shipment dates were between March 17 and April 5.

The reports reflect the assessments of?traders. Further estimates of volumes and prices are possible later. Michael Hogan, reporting from Hamburg and editing by

(source: Reuters)