South Korea purchased several shipments of grain amid falling prices
South Korean buyers secured wheat and corn shipments after prices fell following a US-Iran ceasefire. Flour millers bought US wheat, while feed groups purchased multiple corn cargoes for July delivery. The deals reflect opportunistic buying amid lower prices and stable supply conditions in global grain markets.
On Wednesday, April 8, South Korean companies purchased several shipments of wheat and corn after grain prices fell amid an agreement between the United States and Iran on a two-week ceasefire. Reuters reports this.
A group of South Korean flour millers purchased at an international auction 50 thousand tons of milling wheat from the USA from the Bunge company with delivery from August 1 to 15 on a FOB basis: soft grain white grain (SWW) with a protein content of 9.5-11% at a price of $230 per ton; dark northern spring (DNS) with a protein content of 14% starting from $260 per tonne and hard red grain (HRW) with a protein content starting from 11.5%.
Major Feedmill Group (MFG) purchased two shipments of feed corn through private transactions. 65 thousand tons were contracted from Bunge at a price of $258.21 per ton on a C&F basis plus a second port unloading surcharge of $1.25 per ton. Delivery to South Korea will occur on July 30. Another 68 thousand tons of feed corn were contracted at $257.84 per ton on a C&F basis, plus a surcharge for unloading at a second port of $1.5 per ton.
The Feed Leaders’ Committee (FLC) company purchased 67 thousand tons of feed corn at the tender from the Mitsui trading house at $263 per ton on a C&F basis. The corn will be delivered to South Korea before July 25, 2026. According to the terms of the tender, it will be of any origin. If corn is supplied through the Panama Canal or South Africa, only 55 thousand tons need to be supplied.
The KFA Association purchased 65 thousand tons of feed corn at an international auction from Olam. The purchased batch will arrive in South Korea by July 20, 2026.
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Source : Ukr Agro Consult
