MFG tenders for up to 140,000 T corn, traders say
The corn will be used for animal feed
11 April 2024
2 minute read
By: South Korea's Major Feedmill Group (MFG) has issued an international tender to purchase up to 140,000 metric tons of animal feed corn to be sourced from optional origins, Reuters reported, citing European traders on Thursday.
The deadline for submission of price offers in the tender is Thursday, April 11.
The corn is sought for arrival in South Korea in July in two consignments of 55,000 to 70,000 tons.
South Korean importers frequently purchase in advance of the monthly world supply and demand report from the US Department of Agriculture (USDA), which often causes market turbulence and is due later on Thursday.
Price offers in the MFG tender are sought both in outright terms per ton cost and freight included (c&f) or at a premium over the Chicago May 2024 corn contract.
Shipment of the first consignment for arrival in South Korea around July 22 was sought between June 18-July 7 if sourced from the US Pacific Northwest coast, between May 29-June 17 from the US Gulf or Europe/Black Sea region, between May 19 and June 7 if from South America or June 3-June 22 from South Africa.
Shipment of the second consignment for arrival in South Korea around July 30 was sought between June 26-July 15 if sourced from the US Pacific Northwest coast, between June 6-June 25 from the US Gulf or Europe/Black Sea region, between May 19-June 7 if from South America or June 3-June 22 from South Africa.
