South Korean company MFG buys some 198,000 tonnes of maize in tenders

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Adds detailed breakdown of purchases, sellers

HAMBURG, January 14 (Reuters)South Korea’s Major Feedmill Group (MFG) bought about 198,000 tonnes of maize in an international tender that closed on Friday, European traders said.

Maize was purchased in three batches.

A shipment of 68,000 tons from global origins was reportedly sold by the Bunge trading house at $328.20 per ton c&f plus an additional $1.75 per ton for further unloading at the port. The corn is due to arrive in South Korea around April 30.

A second shipment of 65,000 tonnes also from global origins was reportedly sold by trading house Pan Ocean at $328.00 per tonne c&f plus an additional $1.50 per tonne for further unloading at port. The corn is due to arrive in South Korea around May 3.

A third shipment of 65,000 tons which is expected to come from South America or South Africa was reportedly sold by the trading house Cofco at $327.69 per ton c&f plus an extra $1.50 per ton for a additional unloading at the port. The corn is due to arrive in South Korea around May 8.

The tender continues strong demand for maize from Asian importers in early January after prices fell from their recent peak in December, with Korean buyers NOFI and KFA together buying nearly 260,000 tonnes on Tuesday. GRA/SOFT

Chicago corn futures fell again on Thursday on expectations that rains will benefit crops in dry areas of South American growing regions.[nL1N2TT2CR[nL1N2TT2CR[nL1N2TT2CR[nL1N2TT2CR

(Reporting by Michael Hogan, editing by Jason Neely)

(([email protected]; +49 172 671 36 54; Reuters Messaging: [email protected]))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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