South Korea's NOFI bought about 65,000 T corn in private deal, traders say
HAMBURG, Oct 17 (Reuters) -South Korean feedmaker Nonghyup Feed Inc. (NOFI) purchased about 65,000 metric tons of animal feed corn in a private deal on Wednesday without an international tender being issued, European traders said on Thursday.
It was expected to be sourced from either the United States or South America.
The corn was said to have been purchased at an estimated $236.49 a ton cost and freight (c&f) included for 55,000 tons plus a $1.50 a ton surcharge for additional port unloading. The rest was bought at an estimated premium of 198 U.S. cents a bushel over the Chicago December 2024 corn contract CZ24.
Seller was believed to be trading house CHS.
The corn was for arrival in South Korea around Dec. 27. Shipment if sourced from the U.S. Pacific Northwest coast was between Nov. 12 and Dec. 12.
The deal was one of two private purchases reported following an earlier corn purchase on Wednesday in an international tender by Korean importer MFG. GRA/TEND
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
Reporting by Michael Hogan
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
