South Korean corn demand began to decline

Introduction: according to traders, demand for corn in South Korea also tends to decline due to shrinking compound feed production Most importers have bought enough corn to meet the demand by the end of November Some members of KFA did not participate in last Friday's corn joint procurement plan due to reduced feed demand Last Friday, KFA purchased 35000 tons of corn regardless of origin at the price of $109.5/ton C § F through bidding, and arrived at the end of November, while its original purchase quantity was 52000 tons KFA Pusan also purchased 52500 tons of feed corn regardless of the origin on Tuesday, which was shipped in two batches The arrival date of the second batch was postponed from November 30 to December 10 KFA said that in the first half of this year, South Korea's feed production decreased by 200000 tons compared with the same period last year, estimated at 7.3 million tons On the one hand, feed demand decreased due to seasonal factors Generally, in summer, South Korea's feed consumption will drop by 20% - 25% On the other hand, due to the opening of the domestic beef market, the import of beef will increase, and the number of domestic cattle raised will decrease Now most importers will be ready to buy corn that arrives in December Kocopia, the largest edible corn purchasing group, will look for corn that arrives at the end of December Other edible corn buyers have already bought all the corn they need this year As for feed corn, only NACF needs to buy corn that arrives in mid November, mfg wants to buy corn that arrives in early December, and KFA wants to buy corn that arrives in mid late December.