HAMBURG, Jan 10 (Reuters) – The lowest price offered in the international tender from South Korea’s Major Feedmill Group (MFG) to buy up to 70,000 tonnes of animal feed corn on Tuesday was estimated at $342.35 a tonne c&f, European traders said.
The offer was made for 68,000 tonnes to be sourced from any worldwide origins, although Russian and Ukrainian corn is excluded from the tender.
The offer was believed to involve a premium of 219 U.S. cents a bushel c&f over the Chicago March 2023 corn contract CH3 and has an additional $1.50 a tonne surcharge for additional port unloading. The corn was sought for April arrival in South Korea.
No purchase has yet been reported and offers are still being considered, traders said.
(Reporting by Michael Hogan)
((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))
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