In South Korea, there is a push to import feed corn at the expense of bread wheat.

This week, South Korean company Major Feedmill Group (MFG) purchased a total of 268 thousand tons of feed corn from the United States, South America, or South Africa at international auctions, reported the online edition APK-Inform, citing its sources among market participants. A total of 4 batches were agreed upon, with 2 batches of 68 thousand tons each purchased from companies Olam and CHS at $253.33 per ton C&F plus $1.50 per ton for unloading at a reserve port, with delivery by April 5, 2026, and April 11, respectively, and the remaining 2 batches of 66 thousand tons each from company ADM at $255.50 per ton C&F with delivery by March 25, 2026, and March 30, 2026. For comparison, at the last auction for the import of feed corn in South Korea held at the end of last week, a total of 132 thousand tons were purchased at prices between $255 and $256.84 per ton C&F, and at the auction in Iran four weeks ago, the delivery of 180 thousand tons was agreed upon at a planned 120 ...