- Continued demand: South Korea’s Major Feedmill Group secured 268,000 tons of feed corn for Q1–Q2 2026, underscoring steady Asian feed demand.
- Benchmark pricing: Awarded prices between $253.33 and $255.50 per ton C&F set a reference range for future tenders into Asia.
- Origin mix: U.S., South American, and South African corn won the tender, leaving Black Sea origins sidelined in this round.
- Neutral for Black Sea: No Black Sea awards, but the tender establishes competitive benchmarks for regional exporters targeting Asian markets.
South Korea Secures 268,000 Tons of Feed Corn
South Korea’s Major Feedmill Group (MFG), in cooperation with Cargill Agri Purina, purchased approximately 268,000 tons of feed corn in an international tender dated December 17. The corn will be sourced from the United States, South America, and South Africa, with deliveries scheduled between late March and early April 2026.
The volume was divided across four separate shipments awarded to ADM, Olam, and CHS, with prices ranging from $253.33 to $255.50 per ton C&F, plus an additional unloading charge for some cargoes.
Tender Results and Pricing
| Supplier | Volume (tons) | Price ($/ton C&F) | Additional Costs | Delivery Date |
|---|---|---|---|---|
| ADM | 66,000 | $255.50 | – | March 25, 2026 |
| ADM | 66,000 | $255.50 | – | March 30, 2026 |
| Olam | 68,000 | $253.33 | +$1.50/ton port unloading | April 5, 2026 |
| CHS | 68,000 | $253.33 | +$1.50/ton port unloading | April 11, 2026 |
All four shipments are expected to arrive in South Korea between late March and mid-April 2026, covering key feed demand in the transition from Q1 to Q2.
Market Impact and Black Sea Context
The tender outcome is broadly neutral for Black Sea corn markets. While it confirms robust South Korean demand for imported feed corn, all awards went to American, South American, and South African origins. The achieved $253–255 per ton C&F range into South Korea now serves as a competitive price benchmark for Black Sea exporters eyeing Asian destinations in early 2026.
With no Black Sea cargoes awarded in this round, regional suppliers will likely focus on upcoming tenders to test price competitiveness against these established levels and to secure a foothold in Asian feed grain demand for Q1–Q2 2026.
Source: Market Data
Leave a Reply