European traders reported on Wednesday that the Feed Leaders Committee of South Korea (FLC) had issued an international tender for the purchase of 52,000-69,900 metric tons animal feed corn.

The deadline to submit price offers for the tender is Wednesday, August 13 and arrival into South Korea in one shipment is around December 20.

Shipping is requested between November 1-30 if the source of the shipment comes from the U.S. Pacific Northwest Coast, between October 12-10 if the source of the shipment is the U.S. Gulf coast, or between October 7-5 if the shipping originates from South America, or between October 22-20 if the shipping originates from South Africa.

Sellers can offer any volume within the desired tonnage range and also arrive up to 5 days earlier or later on December 20.

After Chicago corn futures fell to a record low, traders said Asian buyers were strong.

Contractual Terms

The U.S. Department of Agriculture announced a record corn harvest for the United States this year. Farmers planted more acres than anticipated and faced fewer weather challenges during the summer. (Reporting and editing by Sonia Cheema; Michael Hogan)

(source: Reuters)