A South Korean importer has reportedly purchased approximately 65,000 metric tons of animal feed corn from South America in a private deal made on Wednesday, according to European traders.
The purchase was made from trading house Posco at an estimated price of $242.99 per ton, including cost and freight (c&f).
The importer is believed to be the Korea Feed Association’s Incheon section, also known as the Feed Buyers’ Group.
The corn is expected to arrive in South Korea around October 10, with shipment from South America scheduled between August 1 and August 31.
These reports are based on trader assessments, and further estimates of prices and volumes may be updated later.
Additionally, South Korea’s Major Feedmill Group is said to have purchased an estimated 68,000 tons of animal feed corn in a deal on Wednesday, according to European traders.
