09.10.2026, 00:19
South Korea Increases Feed Corn Purchases
Contracts were concluded at prices ranging from $283.6 to $284.2 per tonne on C&F terms, with shipment and delivery scheduled for January–February 2027
South Korean company Nonghyup Feed Inc. (NOFI) purchased approximately 134,000 tonnes of feed corn of various origins following an international tender held on October 7. According to market operators, the company had initially planned to purchase 207,000 tonnes of grain for shipment in January 2027.
The purchased volume was divided between two suppliers. NOFI contracted the first shipment of 68,000 tonnes from Mitsui at a price of $283.85 per tonne on C&F terms. An additional port unloading charge of $1.5 per tonne applies.
The second shipment, totaling 66,000 tonnes, was purchased from ADM. The corn was priced at $284.2 per tonne on C&F terms, with additional port unloading costs of $1.5 per tonne.
Another international tender for feed corn purchases took place on October 8. It was organized by South Korean company Major Feedmill Group (MFG), which purchased approximately 135,000 tonnes of grain against an initially planned procurement volume of 140,000 tonnes.
Under the procurement terms, the corn may originate from the United States, countries in South America, or South Africa.
As part of the tender, MFG signed a contract with CJ International for the supply of 67,000 tonnes of corn at $283.6 per tonne on C&F terms. The additional port unloading charge amounts to $1.2 per tonne. This shipment must be delivered by January 28, 2027.
The remaining 68,000 tonnes of grain were purchased from Bunge at $283.66 per tonne on C&F terms. Additional unloading costs amount to $1.25 per tonne. Under the contract terms, the corn must reach the buyer by February 11, 2027.
