Nonghyup?Feed?Inc. is a leading South Korean animal feed manufacturer. (NOFI) purchased an estimated 135,000 tons of animal?feed?corn at a?international tender on Thursday.

Both consignments are due to arrive in South Korea by July. The total volume of the purchase can vary depending on the source chosen for the supply.

A consignment of corn was purchased at an estimated price of $249.15 per ton, including freight and cost (c&f), plus a $1.44 surcharge per ton for port unloading. Another consignment also included a premium above Chicago corn futures. Seller was thought to be trading firm?CJ International.

The second consignment, which was purchased at a price of $248.69 per ton c&f with a $1.50 surcharge added for port unloading, was also bought at a higher price than Chicago corn futures. The seller was thought to be trading firm?CHS.

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

(source: Reuters)