South Korea’s FLC buys around 130,000 tons corn, traders say

HAMBURG, Oct 13 (Reuters) — South Korea's Feed Leaders Committee (FLC) purchased about 130,000 metric tons of animal feed corn to be sourced from optional origins in an international tender on Tuesday, European traders said. One 67,000 ton consignment was bought from trading house CJ International with 42,000 tons bought at an estimated outright price of $279.20 a ton cost and freight (c&f) with the rest bought at a premium of 216.00 US cents over Chicago March 2027 corn futures plus a $1.20 a ton surcharge for additional port unloading for all the corn. A second consignment of at least 63,000 tons was bought from trading house Olam all at an estimated outright price of $278.90 a ton c&f plus a $1.50 a ton surcharge for additional port unloading. Up to 68,000 tons can be supplied in the second consignment, with the volume to be shipped to be declared ten days before the first shipment. The corn was sought for arrival in South Korea around January 15, 2027. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later. (Reporting by Michael Hogan in Hamburg, editing by ) ((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters