South Korean Feedmakers Seek Most Corn in Seven Months

South Korean Feedmakers Seek Most Corn in Seven Months

Feedmakers in South Korea, the
world’s third-biggest buyer of corn, issued tenders to import
350,000 metric tons, the most sought in a single day since July
last year.
Nonghyup Feed Inc. will bid for as much as 210,000 tons for
delivery in May and June at 5 p.m. today in Seoul, according to
a tender notice to suppliers, a copy of which was e-mailed to
bg News. The Major Feedmill Group is holding a separate
tender at 4:30 p.m. to import as much as 140,000 tons for
arrival in May and June, another notice showed.
Imports of the grain used in animal feed may rebound this
year as the domestic livestock industry recovers from the
nation’s worst outbreak of foot-and-mouth disease, Kim Chi Young,
director for grain purchasing at the Korea Feed Association, the
nation’s biggest feed-grain buyer, said Feb. 7.
Corn futures for May delivery climbed 0.2 percent to $6.39
a bushel on the Chicago Board of Trade as of 12:36 p.m. Seoul
time after yesterday falling 0.8 percent. The price has declined
1.2 percent this year after climbing 2.8 percent last year.