HAMBURG: The Korea Feed Association (KFA) has issued an international tender to purchase up to 136,000 tonnes of animal feed corn to be sourced from optional origins, European traders said on Wednesday.
The deadline for submission of price offers in the tender is also Wednesday, July 13.
The KFA’s Incheon section, also known as the Feed Buyers’ Group, is seeking the corn in two consignments of up to 68,000 tonnes.
The first consignment is for arrival in South Korea around Oct. 20. Shipment is sought between Sept. 16 and Oct. 5 if the corn is sourced from the US Pacific Northwest coast, between Aug. 27-Sept. 15 if from the US Gulf or Black Sea region/east Europe, between Aug. 22 and Sept.
10 if from South America and between Sept. 1 and 20 if from South Africa.
CBOT corn may retest support at $7.58-3/4
The first consignment is for arrival in South Korea around Oct. 30.
Shipment is sought between Sept. 26-Oct. 15 if the corn is sourced from the US Pacific Northwest coast, between Sept. 6-25 if from the US Gulf or Black Sea region/east Europe, between Sept. 1-20 if from South America and between Sept. 11-20 if from South Africa.
Traders said purchase interest in animal feed corn by Asian importers has been sparked after Chicago prices fell on Tuesday, back to pre-Ukraine war levels, after the US Department of Agriculture (USDA) raised key crop supply forecasts and scaled back some demand expectations.