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2026-02-20 16:55:31
[South Korean Feed Buyers Secure 132,000 Tons of Corn] ⑴ The South Korean Feed Leaders Committee completed a corn purchase in an international tender, totaling approximately 132,000 tons, slightly below the previously sought upper limit of 138,000 tons. This purchase reflects the restocking intentions of major importing countries at current price levels. ⑵ The tender was conducted in two batches. The first batch of approximately 65,000 tons was won by trading company Pan Ocean, expected to arrive in South Korea on June 5th, at a price of US$245.97 per ton, plus a US$1.25 port unloading surcharge. The second batch of approximately 67,000 tons was won by Mitsui, expected to arrive on June 25th, at a price of US$244.99 per ton, plus a US$1.50 surcharge. ⑶ The shipping window varied significantly depending on the origin of the corn. The first shipment period is from April 17 to May 16 if it originates from the U.S. Pacific Northwest coast; from March 28 to April 26 if it originates from the U.S. Gulf Coast; from March 23 to April 21 if it originates from South America; and from March 7 to May 6 if it originates from South Africa. (4) The shipment window for the second shipment is also broad. It is from May 2 to 30 for the U.S. Pacific Northwest coast, from April 12 to May 11 for the U.S. Gulf Coast, from April 7 to May 6 for South America, and from April 22 to May 21 for South Africa. Notably, if the second shipment originates from South Africa, the supply can be reduced to 55,000 tons, and the seller will have a five-day flexibility in delivery time. (5) The flexibility in the origin of this tender demonstrates the buyer's intention to seek the optimal combination within the global supply chain, and the transaction price level will provide a reference point for subsequent procurement in the Asian market.
