South Korea's Feed Leaders Committee Secures Massive Corn Cargo
South Korea's Feed Leaders Committee (FLC) has made a significant move in securing up to 65,000 metric tons of animal-feed corn. The tender, which was held on Friday, sets strict shipping windows while allowing for flexibility in choosing the cheapest origin.
The deal shows that big feed buyers are still locking in imports early, but with room to adjust their plans if necessary. European traders report that one 40,000-ton parcel was awarded to Cargill at a cost-and-freight price of $292.67 per ton, plus a $1.50-a-ton port-unloading surcharge.
The remaining volume was priced as a premium over the Chicago Board of Trade's (CBOT) March 2027 corn futures contract, specifically 200.92 US cents-a-bushel delivered. This pricing structure separates the globally traded corn price from other factors like freight and origin uncertainty.