South Korea’s NOFI buys estimated 135,000 T corn in tender -traders (updated)
26/09/2022 09:54
(Adds detailed purchase breakdown, prices)
HAMBURG, Sept 26 (Reuters) - South Korean animal feed
maker Nonghyup Feed Inc (NOFI) has bought an estimated 135,000
tonnes of animal feed corn in an international tender that
closed on Monday, European traders said.
The corn was bought in two consignments, the first of which
was 68,000 tonnes from trading house GrainCorp at a premium of
172.75 U.S. cents c&f over the Chicago December corn contract
CZ2 plus a $1.50 a tonne surcharge for additional port
unloading.
The second consignment of 67,000 tonnes was bought from
trading house CJ International at a premium of 181.40 U.S. cents
c&f over the Chicago December corn contract CZ2 plus a $1.75 a
tonne surcharge for additional port unloading.
Both were bought for arrival in South Korea around Jan. 23,
traders said.
Importer interest was sparked as Chicago corn futures fell
on Monday, pressured by expectations of good harvest weather in
the United States, traders said. GRA/
(Reporting by Michael Hogan
Editing by David Goodman
)
((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54;
Reuters Messaging:
michael.hogan.thomsonreuters.com@reuters.net))