South Korea’s FLC purchases soymeal

South Korea’s Feed Leaders Committee reportedly booked around 50,000 tonnes of soymeal in an international tender. The tender had originally sought up to 60,000 tonnes.

The cargo can be sourced either from the United States or South America, giving the buyer flexibility depending on price, logistics, and availability.

The purchase was reportedly made from CJ International. Part of the volume was priced at an estimated $411.15 per tonne c&f, including an additional surcharge for port unloading. Another part was reportedly linked to Chicago soymeal futures at a premium of $55.95 per short ton c&f.

Shipment terms differed slightly from the initial tender requirements. If supplied from the US Pacific Northwest, shipment is expected between July 26 and August 20. If sourced from South America, the shipment window is expected between June 27 and July 27.

South Korea’s NOFI buys corn

South Korea’s major feed producer Nonghyup Feed Inc. reportedly purchased around 136,000 tonnes of feed corn in an international tender. The tender had sought up to 207,000 tonnes.

The volume was bought in two consignments of 68,000 tonnes each. A third consignment of up to 69,000 tonnes was reportedly not purchased.

The first consignment was reportedly bought from Mitsui. Part of the volume was priced at an estimated $269.94 per tonne c&f, while another part was linked to the Chicago September 2026 corn contract at a premium of 213.68 cents per bushel c&f. Both pricing structures included a $1.75 per tonne surcharge for additional port unloading.

This first cargo is expected to arrive in South Korea around September 1. Shipment windows vary by origin:

• US Pacific Northwest: July 24 – August 12
• US Gulf: July 4 – July 23
• South America: June 29 – July 18
• South Africa: July 14 – August 2

The second consignment was reportedly bought from Cargill. Part of the volume was priced at an estimated $269.88 per tonne c&f, while another part was linked to the Chicago September 2026 corn contract at a premium of 211.78 cents per bushel c&f. Both options included a $1.50 per tonne surcharge for additional port unloading.

The second cargo is expected to arrive around September 10. Shipment windows are as follows:

• US Pacific Northwest: August 2 – August 21
• US Gulf: July 13 – August 1
• South America: July 8 – July 27
• South Africa: July 23 – August 11