Wednesday, 02 September 2015 16:54
HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased 204,000 tonnes of optional-origin corn in a tender which closed on Wednesday, European traders said.
The corn was sought in three consignments for February 2016 arrival, they said.
The corn was likely to be sourced from the US Gulf or South America, they said. Some 69,000 tonnes of corn for Feb. 5 arrival was purchased at $ 185.45 a tonne c&f plus a $ 1.25 per tonne surcharge for additional port unloading, they said.
A further 70,000 tonnes was purchased for Feb. 15 arrival at $ 186.20 a tonne c&f plus a $ 1.25 a tonne surcharge for additional port unloading, they said.
Another 65,000 tonnes was purchased for Feb. 25 arrival at $ 187.50 a tonne c&f plus a $ 1.25 a tonne surcharge for additional port unloading, they said.
Chicago Board of Trade corn futures fell as much as 2 percent on Tuesday, pressured by the start of the US harvest in overall favourable conditions and concern about the economy in major importer China.
