South Korea’s MFG tenders for up to 140,000 tons of corn
South Korea’s Major Feedmill Group (MFG) has issued a tender to purchase up to 140,000 metric tons of animal-feed corn for July and August arrivals. The tender, closing April 29, seeks corn from various origins, including the U.S., South America, and South Africa. Falling CBOT corn futures and strong U.S. planting progress have boosted Asian buying interest.
HAMBURG: South Korea’s Major Feedmill Group (MFG) has issued an international tender to purchase up to 140,000 metric tons of animal-feed corn, European traders said on Tuesday.
The deadline for submission of price offers is also Tuesday, April 29. The corn is sought for arrival in South Korea in two consignments of 55,000 to 70,000 tons in July and August.
Shipment of one consignment for July 28 arrival in South Korea was sought between June 24-July 13 if sourced from the US Pacific Northwest coast, between June 4-23 from the US Gulf, May 30-June 18 from South America and June 9-28 if from South Africa.
Another consignment for August 3 arrival was sought for shipment between June 30-July 19 if sourced from the US Pacific Northwest coast, between June 10-29 from the US Gulf, June 5-24 from South America and June 15-July 4 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 July 2025 corn contract.
Traders said Asian import interest was sparked after Chicago Board of Trade corn futures fell on Monday on spill-over pressure from falling wheat prices and good progress in US corn sowings, with a group in Taiwan also buying 65,000 tons of US-origin corn.
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Source : Business Recorder
