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South Korea's MFG bids up to 140,000 t corn, traders claim

European traders reported on Wednesday that the Major Feedmill Group in South Korea (MFG) had issued an international tender for up to 140.000 metric tons animal feed corn from South America and South Africa.

The deadline to submit price bids in the tender is May 8, Thursday.

In the tender, Cargill Agri Purina, a MFG partner, is said to be involved.

South America was asked to ship one consignment by August 30th, and South Africa between July 12 and 31st.

Second consignment was requested for arrival on September 10, and shipment from South America between July 13 to August 1, or from South Africa between July 23 and August 11, if coming from South Africa.

The tender is seeking price offers both in terms of outright cost per ton and freight included (c&f), or at a higher premium than the Chicago corn contract for September 2025.

South Korean importers have continued to purchase heavy corn in the last two weeks, following a drop in Chicago corn prices.

South Korean purchasing is usually ahead of world supply and demand for grains and oilseeds.

Reportage

The U.S. Department of Agriculture's (USDA) report can create market turmoil. The report must be submitted by Monday, May 12th. Reporting by Michael Hogan and editing by Eileen Soreng

(source: Reuters)