South Korea's Major Feedmill Group (MFG) has released an international tender to buy up to 70,000 metric tons of animal feed corn from various sources, according to European traders on Friday. The deadline for submitting price offers is set for Friday, January 19. The corn is needed for arrival in South Korea as a single shipment around May 23. Traders attribute the increased Asian import purchasing to declining corn prices, with Chicago corn futures hitting three-year lows due to ample global supplies. The sought shipment periods vary based on the source, spanning from April 19 to May 8 for the U.S. Pacific Northwest coast, March 30 to April 18 from the U.S. Gulf or Europe/Black Sea region, March 25 to April 13 from South America, and April 4 to April 23 from South Africa.
