South Korea’s NOFI buys some 69,000 tonnes of maize in tender – traders


Adds detail, shipping times from worldwide origins

HAMBURG, April 14 (Reuters)South Korean animal feed maker Nonghyup Feed Inc (NOFI) has purchased about 69,000 tonnes of maize for animal feed in an international tender that closed on Thursday, officials said. European traders.

The tender was for up to 138,000 tons, but bids for a second shipment of 69,000 tons were rejected with no purchases made, they said.

The corn was purchased to arrive in South Korea around August 10 at an estimated premium of 202 US cents per bushel price and freight (c&f) over the July 2022 Chicago corn contract. CN2, they said. The seller was believed to be the trading house Cargill.

NOFI had only bought 207,000 tonnes of fodder maize on April 12 through an international tender.

U.S. corn futures hit their highest level in nearly 10 years on Wednesday and wheat hit a three-week high on concerns over tight global grain supplies, the Ukraine, the main corn exporter, and the drought in the American plains. GR/

Traders said some corn importers were buying supplies despite high prices, as no signs that the Ukrainian war will end soon could mean a continued disruption in grain shipments from the Black Sea and even higher prices. .

Maize from the Black Sea was excluded from the tender on Thursday. Ukraine, a huge corn exporter, was expected to make large shipments to Asian importers before the Russian invasion – which Moscow called a “special operation” – closed the country’s ports.

The shipment for the shipment purchased on Thursday was searched if it originated from the Pacific Northwest coast of the United States between July 8 and July 27, if it originated from the Gulf of the United States between June 18 and July 7, from South America between June 8 and 27 or from South Africa between June 23. -July 12.

(Reporting by Michael Hogan; Editing by Jan Harvey)

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