South Korea’s NOFI tenders for 138,000 tonnes corn – traders
South Korean feedmaker Nonghyup Feed Inc (NOFI) has issued an international tender to purchase up to 138,000 tonnes of animal feed corn with the Black Sea region excluded as an origin, European traders said on Thursday.
The deadline for submission of price offers in the tender is also Thursday, April 14.
NOFI had only on April 12 bought 207,000 tonnes of feed corn in an international tender.
U.S. corn futures hit their highest in nearly 10 years on Wednesday and wheat touched a three-week high on worries about tightening global grain supplies, the crisis in major corn exporter Ukraine and drought in the U.S. Plains. GRA/
“With no signs of a peace deal in Ukraine which could bring a rapid restart to high-volume corn exports from Ukraine, it appears some buyers are buying supplies before prices rise even more,” one European trader said.
The yellow corn in the new tender is sought in two consignments of 45,000 tonnes to 69,000 tonnes.
For the first consignment for arrival around Aug. 10, shipment is sought if sourced from the U.S. Pacific Northwest coast between July 8-27, if from the U.S. Gulf between June 18-July 7, from South America between June 8-27 or from South Africa between June 23-July 12.
For the second consignment for arrival around Aug. 20, shipment is sought if sourced from the U.S. Pacific Northwest coast between July 18-Aug. 6, if from the U.S. Gulf between June 28-July 17, from South America between June 18-July 7 or from South Africa between June 3-22.
Source: Reuters (Reporting by Michael Hogan, Editing by Subhranshu Sahu)