July 16, 2020 / 10:00 AM / 21 days ago

UPDATE 1-South Korean’s KFA passes in 69,000 tonne corn tender

(Adds lowest offers from paragraph three)

HAMBURG, July 16 (Reuters) - The Korea Feed Association (KFA) is believed to have rejected all offers and made no purchase in a tender on Thursday to buy up to 69,000 tonnes of corn, European traders said.

Prices were regarded as too high.

The lowest price offered in the tender from the KFA’s Busan section for corn sourced from any worldwide origin was said to be $195.37 a tonne c&f, plus a $1.25 a tonne surcharge for additional port unloading, made for 61,000 tonnes.

The KFA had also sought offers for corn sought from only the east Europe/Black Sea region, South America and South Africa.

The lowest price offered for these three origins was said to be $192.50 a tonne, c&f plus a $1.00 a tonne surcharge for additional port unloading, for 60,000 tonnes.

The corn was sought for arrival in South Korea around Nov. 15. (Reporting by Michael Hogan, editing by Mark Potter)

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