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South Korea's NOFI buys 65,000 T corn, 63,000 T feed wheat

Leading South Korean animal feed maker Nonghyup Feed Inc (NOFI) bought an approximated 65,000 metric lots of animal feed corn and 63,000 tons of feed wheat in a tender on Thursday, European traders said.

The corn was bought at an approximated premium of 192 U.S. cents a bushel over the Chicago March 2025 corn contract expense and freight (c&& f) consisted of, plus a $1.50 a lot surcharge for extra port discharging.

It was expected to be sourced from the United States, South America or South Africa and was sold by trading house CHS, they said.

The wheat can be sourced from optional around the world origins and was purchased $266.92 a heap c&& f plus a $1.35 a lot surcharge for extra port unloading.

The wheat seller was said to be trading home Agrocorp.

Reports show assessments from traders and even more estimates of rates and volumes are possible later on.

The corn was for arrival in South Korea around Feb. 1. Shipment was in between Dec. 30 and Jan. 18 if sourced from the U.S. Pacific Northwest coast, Dec. 10-29 from the U.S. Gulf, Dec. 5-24 from South America or in between Dec. 15 and Jan. 3 from South Africa.

NOFI made no purchase of a 2nd 69,000 load corn consignment sought for arrival around Feb. 15.

The feed wheat was for arrival around Jan. 20. Loading ports in Ukraine and Russia are not allowed other than in Russia's Far East.

Wheat shipment from the U.S. Pacific Northwest coast, Australia or Canadian west coast was in between Dec. 18 and Jan. 6. From the U.S. Gulf, Europe or Canadian east coast, shipment was in between Nov. 28 and Dec. 17. From Europe, via the Cape of Good Hope, it was in between Nov. 13 and Dec. 2. From South America, delivery was in between Nov. 23 and Dec. 12 while shipment from South Africa was for Dec. 3-22.

(source: Reuters)