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South Korea’s FLC buys 65,000 tonnes corn in private deal- traders

South Korea’s Feed Leaders Committee (FLC) purchased about 65,000 tonnes of animal feed corn expected to be sourced from South America in a private deal on Wednesday without an international tender being issued, European traders said.

The corn was purchased at an estimated $335.95 a tonne c&f with an additional $1.25 a tonne surcharge for additional port unloading.

It was for shipment from South America in 2023 between Jan. 1 and Jan 20 with arrival in Korea around March 2. Seller was believed to be trading house Zen-Noh.

The deal continues active corn buying by Korean importers this week with other deals from buyers MFG and NOFI.
Source: Reuters (Reporting by Michael Hogan)

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