June 7, 2019 / 6:09 AM / 3 months ago

UPDATE 1-South Korea's FLC bought 65,000 tonnes corn on Tuesday

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HAMBURG, June 7 (Reuters) - South Korea’s Feed Leaders Committee (FLC) purchased about 65,000 tonnes of corn expected to be sourced from South America in a private deal on Tuesday without issuing an international tender, European traders said on Friday.

The corn was purchased at around $211.90 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading.

Shipment is between Aug. 15 and Sept. 15. Traders said the seller was Chinese trading house Cofco.

Chicago corn futures rose on Tuesday to approach last week’s three-year highs after the U.S. Department of Agriculture said U.S. planting was well behind the average pace for this time of year following repeated rain.

But many Asian corn importers had already purchased much of their requirements in the spring at $180 to $190 a tonne c&f and are buying the rest of their supplies hand-to-mouth. (Reporting by Michael Hogan, editing by Darren Schuettler)

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