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South Korea’s NOFI tenders for up to 207,000 tonnes corn

Wed Jan 22 2020

 

South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI) issued an international tender to purchase up to 207,000 tonnes of yellow corn to be sourced from optional origins, European traders said on Wednesday.

 

The tender also closes on Wednesday, Jan. 22, they said. The corn was sought for arrival in South Korea in April and May.

 

Yellow corn equivalent to U.S. number 3 grade or better is sought in three consignments of between 45,000 and 69,000 tonnes.

 

The first consignment was sought for arrival in South Korea around April 20.

 

If sourced from the U.S. Pacific Northwest coast, shipment of the first consignment is sought between March 18 and April 6, if from the U.S. Gulf or east Europe between Feb. 27 and March 17, if from South America between Feb. 22 and March 12 or between March 3-22 if from South Africa.

 

The second consignment was sought for arrival in South Korea around May 1.

 

If sourced from the U.S. Pacific Northwest coast, shipment of the second consignment is sought between March 29 and April 17, if from the U.S. Gulf or east Europe between March 9 and April 28, if from South America between March 4-23 or between March 14 and April 2 if from South Africa.

 

The third consignment was sought for arrival in South Korea around May 10.

 

If sourced from the U.S. Pacific Northwest coast, shipment of the third consignment is sought between April 7-26, if from the U.S. Gulf or east Europe between March 18 and April 6, if from South America between March 13 and April 1 or between March 23 and April 11 if from South Africa.

 

Chicago Board of Trade corn futures fell 1.7pc on Tuesday, retreating after sharp gains on Friday with U.S. corn regarded as the cheapest in the world.

 

Source: Reuters

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