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South Korea’s MFG buys 68,000 T corn in another private deal, traders say

South Korea’s Major Feedmill Group (MFG) purchased an estimated 68,000 metric tons of animal feed corn in a second private deal on Wednesday without issuing an international tender, European traders said.

This followed a previous purchase of about 66,000 tons of corn in another privatedeal on Wednesday.

The second purchase was expected to be sourced optionally from South America or South Africa.

One consignment was bought at an estimated $247.99 a ton cost and freight (c&f) included plus an additional $1.50 a ton surcharge for additional port unloading.

Seller was believed to be trading house Olam with arrival in South Korea around Jan. 25, 2025.

Shipment was between Nov. 15-Dec. 15 from South America or between Nov. 25-Dec. 25 from South Africa.

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

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