Purchase prices for corn at the tender of South Korean companies decreased by 4% over the week.

According to market operators, on November 20, South Korean company Nonghyup Feed Inc. (NOFI) purchased around 195,000 tons of feed corn from the United States, South Africa, or South American countries in an international tender. Two lots of 65,000 tons each were bought from Bunge at a price of $249.46/ton C&F (+$1.25/ton for unloading at the port). Another 65,000 tons of corn were purchased from Pan Ocean at the same price, and all contracted lots are scheduled to be delivered to the buyer in March 2026. The purchase price was significantly lower than a week ago when, on November 12, South Korean animal feed producer Nonghyup Feed Inc. (NOFI) bought 75,000 tons of feed corn at a tender from Agrocorp and Lotte at prices of $255.9 and $265.5/ton C&F, with delivery by February 15, 2026. In addition, on another tender on November 20, Major Feedmill Group (MFG) purchased around 68,000 tons of corn from COFCO, originating from South American countries or ...