South Korea’s FLC buys some 65,000 T corn in private deal, traders say

South Korea’s Feed Leaders Committee (FLC) purchased around 65,000 metric tons of animal feed corn in a private deal on Monday without issuing an international tender, European traders said on Tuesday.

It was expected to be sourced from the United States or South America.

The corn was purchased at an estimated $238.49 a ton cost and freight (c&f) included with an additional $1.50 a tonne surcharge for additional port unloading. Seller was believed to be trading house Posco.

It was for arrival in South Korea around Feb. 28, 2025.

If sourced from the U.S. Pacific Northwest coast, shipment was between Jan. 15 and Feb. 13.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
Source: Reuters (Reporting by Michael Hogan)