USSEC staff in Korea continued individual visits and meetings with Korea Feed Association (KFA) member feed mills to maintain their interest in repeat purchasing U.S. soybean meal (SBM) in the second half of this year.  USSEC reminded them of the economic value of U.S. SBM and specifically focused on the amino acid profile suitable for swine and broiler production.  According to KFA’s analysis on imported SBMs since 2013, U.S. SBM provides 2.91% Lysine and 0.65% Methionine on average, the first limiting amino acids for the growth of swine and broilers.
The buying group for KFA feed mills at Incheon and Busan purchased 60,000 metric tons of SBM from Cargill in early July under seller’s optional origin from the U.S., South America or China.  USSEC is in communication with three feed mills representing the buying group to express their wish for receiving U.S. SBM to Cargill.  USSEC also communicated with Cargill Korea to deliver the buyers’ desire for U.S. SBM to their home office.  It is known that U.S. SBM was sold at $10 more per metric ton than the South American or Chinese SBMs.  The cargo will be delivered by December 25 and the origin will be decided no later than September 25.