South Korea’s NOFI buys 11,000 tonnes U.S. feed wheat in private deal- traders

Leading South Korea’s animal feed maker Nonghyup Feed Inc. (NOFI) purchased around 11,000 tonnes of animal feed wheat expected to be sourced from the United States in a private deal on Thursday after earlier making no purchase in an international tender for feed wheat, European traders said.

Price in the private deal was estimated at $350 a tonne c&f for unloading in one port.

It was for shipment from the U.S. Pacific Northwest coast between March 10-March 30 for arrival in South Korea in April.

Seller was believed to be trading house Agrocorp.

Lowest offer in an international tender earlier on Thursday for 20,000 tonnes of feed wheat was believed to be $351.50 a tonne c&f plus a $1.75 a tonne surcharge for additional port unloading also for April arrival in South Korea.
Source: Reuters (Reporting by Michael Hogan)