- South Korea’s KFA purchased 132,000 tons of feed corn for Q1 2026 delivery via international tender.
- Contract prices ranged from $255 to $256.84 per ton C&F, with an earlier March shipment priced at a premium.
- Neutral implications for Black Sea corn; “any origin” terms keep competition open among global suppliers.
- Forward-dated deliveries highlight strong advance planning by Korean feed buyers but limited impact on near-term Black Sea export prices.
South Korea Feed Corn Tender Overview
The South Korean Feed Industry Association (KFA) concluded an international tender on December 9, securing approximately 132,000 tons of feed corn of any origin for forward delivery in Q1 2026. The tender outcome underscores Korea’s continued focus on securing supply well in advance amid ongoing uncertainty in global grain markets.
Contract Details and Pricing
The volume was split between two suppliers and delivery windows. Mitsu will supply 67,000 tons at $256.84 per ton C&F for arrival on March 15, 2026, while Agrex will deliver 65,000 tons at $255 per ton C&F for April 10, 2026. The earlier shipment secured a $1.84 per ton premium over the April cargo.
| Buyer | Supplier | Volume (tons) | Price (C&F, $/ton) | Delivery Date |
|---|---|---|---|---|
| KFA (South Korea) | Mitsu | 67,000 | 256.84 | 15 March 2026 |
| KFA (South Korea) | Agrex | 65,000 | 255.00 | 10 April 2026 |
| Total / Price Spread | 132,000 | $1.84/ton premium for March vs. April shipment | ||
Market Impact and Black Sea Corn Outlook
The tender outcome is viewed as neutral for Black Sea corn suppliers. The “any origin” clause keeps competition open between Black Sea, South American, and North American exporters, while the $255–257 per ton C&F range provides a useful benchmark for forward Asian feed corn demand. However, with deliveries scheduled for Q1 2026, these deals offer limited direct guidance for current Black Sea spot and nearby export prices, instead highlighting Korean buyers’ emphasis on long-term supply security.
Source: Market Data
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