South Korea’s NOFI buys around 131,000 tons corn in tender, traders say

HAMBURG, Oct 13 (Reuters) — Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought around 131,000 metric tons of animal feed corn in an international tender seeking up to 207,000 tons on Tuesday, European traders said. The corn was purchased by NOFI unit NH Feed in two consignments for arrival in South Korea in January and February 2027. One 68,000 ton consignment was bought from trading house Bunge at an estimated outright price of $278.49 a ton cost and freight (c&f) plus a $1.50 a ton surcharge for additional port unloading. A second consignment of at least 63,000 tons was bought from trading house Olam partly at an outright price of $278.90 a ton c&f plus a $1.50 a ton surcharge for additional port unloading with 20,000 tons also bought at a premium of 215.00 US cents over the Chicago March 2027 corn contract. 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. No purchase was immediately reported of a third consignment also sought in the tender. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later. (Reporting by Mic