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Downside in South Korean corn import on feed wheat switch, rice stock release to feed millers

March 15, 2024 Comments Off

South Korea’s corn demand in marketing year 2023-24 (September-August) faces further downside potential after feed buyers started increasing feed wheat usage in feed ratios to replace corn. This follows the release of local rice stocks by the national granary to feed millers, marking around 400,000 mt of corn demand already replaced by alternative feed grains. South Korea’s Feed Leaders Committee…