South Korea's KFA buys 65,000 T to 70,000 T corn, traders say
Adds likely origins, shipment earlier than in tender request
HAMBURG, Nov 13 (Reuters) -The Korea Feed Association's Incheon section purchased an estimated 65,000 to 70,000 metric tons of animal feed corn in an international tender on Wednesday, European traders said.
The corn was expected to be sourced optionally from the United States, South America or South Africa, they said.
The purchase was made partly at the estimated outright price of $245.80 a ton cost and freight (c&f) included and partly at a premium of 185.00 U.S. cents a bushel c&f over the Chicago March 2025 corn contract CH25. Seller was believed to be trading house CHS.
The corn was bought for arrival in South Korea around Feb. 15, 2025. Shipment would be about 13 days earlier than requested in the tender, traders said.
No purchase was reported of a second 68,000 ton consignment also sought in the tender. The KFA's Incheon section is also known as the Feed Buyers' Group.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
Reporting by Michael Hogan, editing by Rashmi Aich
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