South Korea’s NOFI buys corn in 276,000 tonne tender -trade (updated)

Pan Ocean

06/05/2021 14:07

(Adds detail from paragraph four)
    HAMBURG, May 6 (Reuters) - South Korea's largest animal feed
maker Nonghyup Feed Inc (NOFI) purchased animal feed corn in an
international tender for up to 276,000 tonnes, European traders
said.
    The volumes bought were initially unclear but said to be
close to the 276,000 tonnes sought in the tender, which closed
on Thursday.
    Four consignments were bought from four trading houses at
premiums over Chicago September corn futures, they said.
    Trading house Cofco sold one consignment at a premium of
$2.37, Avere sold one at a premium of $2.35, Pan Ocean sold one
at a $2.37 premium and ADM also sold one at a $2.37 premium.
    All the purchases have an additional $1.50 a tonne surcharge
for additional port unloading.  
    NOFI sought corn in four consignments of between 45,000 and
69,000 tonnes. Sellers can decide the volume to be offered
inside this range.
    For the first consignment for arrival around Sept. 1,
shipment was sought between July 30 and Aug. 18 if sourced from
the U.S. Pacific Northwest coast. If from the U.S. Gulf or east
Europe, shipment was sought for July 10-29. From South America
shipment was sought for July 5-24 while shipment from South
Africa was sought between July 15 and Aug. 3.
    For the second consignment, for arrival around Sept. 10,
shipment was sought between Aug. 8-27 if sourced from the U.S.
Pacific Northwest coast, between July 19 and Aug. 7 from the
U.S. Gulf or east Europe, between July 14 and Aug. 2 from South
America or between July 24 and Aug. 12 from South Africa.
    For the third consignment for arrival around Oct. 5,
shipment was sought over Sept. 2-21 if sourced from the U.S.
Pacific Northwest coast, between Aug. 13 and Sept. 1 from the
U.S. Gulf or east Europe, Aug. 8-27 from South America or
between Aug. 18 and Sept. 6 from South Africa.
    For the fourth consignment for arrival around Oct. 15,
shipment was sought between Sept. 12 and Oct. 1 if sourced from
the U.S. Pacific Northwest coast, between Aug. 23 and Sept. 11
from the U.S. Gulf or east Europe, between Aug. 18 and Sept. 6
from South America or between Aug. 28 and Sept. 16 from South
Africa.
    

 (Reporting by Michael Hogan
Editing by David Goodman)
 ((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54;
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