Nonghyup Feed Inc. (NOFI), a prominent South Korean animal feed maker, has reportedly acquired an estimated 137,000 metric tons of animal feed corn in an international tender. The purchased corn is scheduled for arrival in South Korea in August and is expected to be sourced optionally from the United States, South America, or South Africa.
The procurement comprises two consignments, with one 69,000-ton consignment purchased at an estimated outright price of $242.87 per ton cost and freight (c&f), along with a premium of 175.93 U.S. cents a bushel c&f over the Chicago May corn contract. Additionally, a $1.50 per ton surcharge for additional port unloading was included. The seller for this consignment was reportedly trading house Dreyfus.
The second consignment, totaling 68,000 tons, was all acquired at the estimated outright price of $247.99 per ton cost and freight (c&f), with an additional $1.50 per ton surcharge for extra port unloading. The seller for this consignment was believed to be trading house Cargill.
It’s important to note that the information provided reflects assessments from traders, and there is a possibility of further estimates of prices and volumes being available at a later time.