KFA tender adds another 200,000 mt to South Korea corn buying

A fresh tender from the Korean Feed Association has added another 120,000 mt of demand to South Korea’s corn buying spree, taking volumes sought over the last three days to just under 700,000 mt.

Thursday’s tender is for three cargoes for delivery from mid-April through to end of May and comes after KOCOPIA, MFG and NOFI tendered on Tuesday and Wednesday.

The cargoes are for delivery in late May or early June, with the second in the first half of June.

Market sources saw the tender settled at $221/mt and $223/mt, with ETG and Pan Ocean said to be the sellers. 

Wednesday’s tender saw three cargoes for Nonghyup Feed Inc awarded to Glencore, Avere and CJ International, according to market sources.

Tuesday saw Louis Dreyfus deliver two cargoes with Cargill and CJ International delivering one apiece.