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

The deadline to submit price offers for the tender is Wednesday, July 9. Arrival in South Korea in a single consignment is expected around October 5.

Shipping is requested between August 17-September 15 for shipments originating from the U.S. Pacific Northwest Coast, between July 28-August 26 if the shipment originates from the U.S. Gulf coast, or between July 23 – August 21 if the shipment originates from South America, or between August 7 – September 5 if the shipment originates from South Africa.

Sellers can offer an arrival date up to 5 days earlier or later on October 5, and they are free to choose the volume of the requested tonnage.

The traders said that Asian buyers were sparked by the Chicago corn futures falling on Tuesday to near eight-month lows. This was due to improved crop ratings, and more favorable weather forecasts fueling expectations of a bumper U.S. Harvest. (Reporting and editing by Eileen Soreng, Michael Hogan)

(source: Reuters)