South Korea’s largest animal feedmaker Nonghyup Feed Inc. (NOFI) is believed to have purchased around 68,000 tonnes of feed corn in an international tender which closed on Monday, European traders said.
It was bought at an estimated premium of 237.39 U.S. cents c&f over the Chicago December corn contract CZ1 plus a $1.75 a tonne surcharge for additional port unloading.
Seller was believed to be trading house Viterra. The tender sought October/November arrival in Korea.
Source: Reuters (Reporting by Michael Hogan)