Korea Nonghyup Feed Group tenders to buy 165,000 tons of corn
Korea Nonghyup Feed Group buys 165,000 tons of corn through tender
According to Korean industry sources, Korea's largest feed grain buyer, Korea Nonghyup Feed Group, bought 165,000 tons of corn at a tender held this week, slightly below the originally planned purchase volume.
The corn is to be shipped in three cargoes of 55,000 tons each. The first cargo is scheduled to arrive on February 15, 2010, at a CNF price of 2.14 USD per bushel over the CBOT March corn futures price.
The second cargo is scheduled to arrive on April 3, 2010, at a CNF price of 2.03 USD per bushel over the CBOT March corn futures price.
The third cargo is scheduled to arrive on April 5, 2010, at a CNF price of 1.98 USD per bushel over the CBOT March corn futures price.
The corn will be delivered to Incheon Port, Gunsan Port, Mokpo Port, Busan Port and Ulsan Port. For delivery to the second and third ports, the buyer must pay an additional cost of 1.50 USD per ton. The additional price for delivery to Mokpo Port is 2.50 USD per ton.
Korea Nonghyup Feed Group purchases US, South American or Chinese corn from Cargill.
According to the analysis agency F. O. Licht, South Korea's compound feed production from January to August 2009 was 10.7 million tons, stable compared with the same period the previous year.
The corn is to be shipped in three cargoes of 55,000 tons each. The first cargo is scheduled to arrive on February 15, 2010, at a CNF price of 2.14 USD per bushel over the CBOT March corn futures price.
The second cargo is scheduled to arrive on April 3, 2010, at a CNF price of 2.03 USD per bushel over the CBOT March corn futures price.
The third cargo is scheduled to arrive on April 5, 2010, at a CNF price of 1.98 USD per bushel over the CBOT March corn futures price.
The corn will be delivered to Incheon Port, Gunsan Port, Mokpo Port, Busan Port and Ulsan Port. For delivery to the second and third ports, the buyer must pay an additional cost of 1.50 USD per ton. The additional price for delivery to Mokpo Port is 2.50 USD per ton.
Korea Nonghyup Feed Group purchases US, South American or Chinese corn from Cargill.
According to the analysis agency F. O. Licht, South Korea's compound feed production from January to August 2009 was 10.7 million tons, stable compared with the same period the previous year.