S.Korea's NOFI buys 108,000 T corn for July-Nov

SEOUL, June 11 Mon Jun 11, 2012 2:05am BST

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SEOUL, June 11 (Reuters) - South Korea's largest feedmaker Nonghyup Feed (NOFI) bought a total of 108,000 tonnes of corn for arrival between July and November via tenders late on Friday, traders said.

It bought 39,000 tonnes of Indian corn from Peter Cremer at $259.83 per tonne on a cost-and-freight (CFR) basis for July 10 arrival and 69,000 tonnes of the U.S. origin from Cargill at $278.99 per tonne, CFR, for November 30, traders said.

The agency bought Indian corn for July as higher demand than initially thought caused it to buy corn from near by, said a company source, who declined to be named as they were not authorised to talk to the media.

The corn should arrive at two or three ports from the list of Incheon, Pyongtaek, Kunsan, Mokpo, Busan and Ulsan. (Reporting By Eunhye Shin; Editing by Ed Davies)

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