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South Korea’s NOFI buys 68,000 T corn and 60,000 T soymeal

South Korea’s NOFI buys 68,000 T corn and 60,000 T soymeal

Thu Mar 22 2018


South Korea’s largest feedmaker Nonghyup Feed Inc. (NOFI) purchased some 68,000 tons of corn and 60,000 tons of soymeal in an international tender which closed on Thursday, European traders said.


The corn was all bought at $216.72 c&f with an extra $1.25 a ton surcharge for additional port unloading.


The soymeal was all bought at $449.49 a ton c&f including surcharge for additional port unloading.


The yellow corn can be sourced from worldwide origins and was sold by trading house Posco-Daewoo.


The corn is for shipment for July 13 to Aug.1 if sourced from the US Pacific North West Coast, between June 28 and July 17 if from the US Gulf/east Europe/South Africa and between June 23 and July 12 if from South America.


Arrival in South Korea will be around Aug. 20.


The soymeal will be sourced from South America and was purchased from Bunge, traders said.


It is for shipment July 29 to Aug. 17 for arrival in Korea around Sept. 25.


The deals continue heavy purchasing of corn and soymeal by South Korean importers in past weeks, partly on concern about drought damaging corn and soybean crops in Argentina.


Source: Reuters

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