South Korea’s MFG tenders for 70,000 T corn, traders say
The corn will be used for livestock feed
23 August 2024
1 minute read
By: South Korea's Major Feedmill Group (MFG) has issued an international tender to purchase up to 70,000 metric tons of animal feed corn to be sourced from either South America or South Africa only, Reuters reported, citing European traders on Friday.
The deadline for submission of price offers in the tender is also Friday, Aug. 23.
The corn is sought for arrival in South Korea in one consignment around Dec. 23. Between 55,000 and 70,000 tons are sought, with the seller free to decide the volume to be offered within this range.
Shipment is sought between Oct. 25 and Nov. 13 if sourced from South America or Nov. 4 and Nov. 23 if from South Africa.
Price offers in the tender are sought both in outright terms per ton cost and freight included (c&f) or at a premium over the Chicago December corn contract.
Offers over $235 a ton c&f will not be accepted, traders said.
Asian import interest was sparked after Chicago Board of Trade corn futures fell on Thursday as strong results from a major crop tour in the United States reinforced expectations of bumper US harvest, traders added.
