HAMBURG: The Korea Feed Association (KFA) has issued an international tender to purchase up to 136,000 metric tons of animal feed corn to be sourced from optional origins, European traders said on Tuesday.
The deadline for submission of price offers in the tender is also Tuesday, Sept. 26.
The corn was sought for arrival in South Korea in two consignments in December 2023 and January 2024. The corn is sought by the KFA’s Incheon section, which is also known as the Feed Buyers’ Group.
The first consignment for arrival in Korea around Dec. 30, 2023, sought shipment between Nov. 26 and Dec. 15 if the corn is sourced from the US Pacific Northwest coast, between Nov. 6-Nov. 25 if from the US Gulf or east Europe, between Nov. 1-Nov. 20 if from South America or between Nov. 11-Nov. 30 if from South Africa.
The second consignment for arrival in Korea around Jan. 15, 2024, sought shipment between Dec. 12 and Dec. 31 if the corn is sourced from the US Pacific Northwest coast, between Nov. 22-Dec. 11 if from the US Gulf or east Europe, between Nov. 17-Dec. 6 if from South America or between Nov. 27-Dec. 16 if from South Africa.
Offers were sought both in outright prices per ton c&f and at a premium over the Chicago March 2024 corn contract, traders said. Importer demand for corn remains strong with prices still attractively low, traders said.
Chicago corn futures are still hovering close to their lowest in almost three years, despite rising on Monday, as the US harvest expands, traders said.