Corn purchase prices in South Korean tenders have risen again

South Korean company Nonghyup Feed Inc. (NOFI) purchased 136,000 tons of feed corn at a tender, Reuters reports.

 

The following lots were purchased at the tender:

• 68 thousand tons from Mitsui, one part at a price of $269.94/ton C&F, the other part at the price of the September SWOT contract + $2.1368/bushel, with a surcharge for unloading at the port of $1.75/ton and delivery by September 11,
• 68 thousand tons from Cargill, one part at a price of $269.88/ton C&F, the other part at the price of the September SWOT contract + $2.1178/bushel, with a surcharge for unloading at the port of $1.5/ton and delivery by September 10.

 

The Feed Leaders' Committee (FLC) company purchased 132,000 tons of feed corn of any origin in the following lots at a tender on May 7:

• 65 thousand tons from the operator Sucden at a price of $268.3/ton C&F,
• 67 thousand tons from Mitsui at a price of $267.89/ton C&F.

 

Recall that on April 24, South Korean Nonghyup Feed Inc. (NOFI) purchased 65,000 tons of feed corn under a private agreement with Posco for delivery in August at a price of $263.58/ton C&F and a surcharge for unloading at the port of $1.75/ton.

 

It should be noted that before the start of the war with Iran, the purchase prices of corn for delivery in June to South Korea were $245/t C&F, and within two months they rose to almost $275/t C&F.