South Korea cancels corn tender

South Korean company Feed Leaders’ Committee (FLC) has cancelled a tender for the purchase of 52-69 thousand tons of feed corn due to high prices. This was reported Reuters agency. Shipping dates under the tender conditions: Sellers could offer a delivery date to South Korea 5 days earlier or later than October 5. They could also freely choose the tonnage. The lowest price in the tender was offered by Mitsui – $243.95 per ton on a CFR basis (+$1.25 for unloading in the second port). CHS was willing to deliver corn at $243.04 a ton CFR (plus $1.50 for a second port unloading), but with a later delivery date than the tender terms stipulated, arriving in South Korea by November 20. Traders said FLC was expecting a price of about $235 CFR for delivery to South Korea in early October. Traders said Asian buyers were encouraged by a drop in CBOT corn futures to a nearly eight-month low on Tuesday, as improved crop conditions and a ...