# S Korea joins buying spree for Black Sea new crop feed wheat | S&P Global

> South Korea's Nonghyup Feed bought 65,000 mt of new crop Black Sea feed wheat at $208/mt CFR, and Major Feed bought 68,000 mt at $209.90/mt CFR. This follows earlier purchases by the Philippines and Thailand. Chicago July wheat futures have fallen 8% since February 21.

- Date: 2020-03-13 · published 2020-03-13T12:00:00.000Z
- Category: trade · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/54171-s-korea-joins-buying-spree-for-black-sea-new-crop-feed-wheat-s-and-p-global
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Steady Asian buying of cheap Black Sea feed wheat supports export demand and sets a low price floor for feed grain buyers. Competition from cheap wheat pressures corn-based feed costs.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-01-28 | [Sprouted wheat an option for Asian feed: AEGIC - Grain Central](https://feedsoft.ai/events/43095-sprouted-wheat-an-option-for-asian-feed-aegic-grain-central.md) | -1.8% | +2.3% |
| WHEAT | 2023-11-02 | [Russian Wheat Pushes Growth of Black Sea Dry Bulk Exports \| Dry bulk shipping news \| Shipping Telegraph](https://feedsoft.ai/events/14348-russian-wheat-pushes-growth-of-black-sea-dry-bulk-exports-dry-bulk-shipping.md) | -1.1% | -0.5% |
| WHEAT | 2020-03-03 | [Black Sea region increased its share of the global grain market — S&P Global Platts](https://feedsoft.ai/events/53984-black-sea-region-increased-its-share-of-the-global-grain-market-s-and-p-global.md) | +6.1% | -1.7% |
| WHEAT | 2024-06-13 | [Falling demand for wheat and corn in China could crash global markets](https://feedsoft.ai/events/14743-falling-demand-for-wheat-and-corn-in-china-could-crash-global-markets.md) | -2.1% | -3.6% |
| WHEAT | 2025-09-23 | [Russia’s wheat exports from Black Sea ports fall to 460kt](https://feedsoft.ai/events/14174-russia-s-wheat-exports-from-black-sea-ports-fall-to-460kt.md) | -0.2% | +1.8% |
| CORN | 2026-06-01 | [Explainer: What do China's new US farm purchases mean for global trade?](https://feedsoft.ai/events/14575-explainer-what-do-china-s-new-us-farm-purchases-mean-for-global-trade.md) | -5.5% | -10.2% |
| CORN | 2020-03-03 | [Black Sea region increased its share of the global grain market — S&P Global Platts](https://feedsoft.ai/events/53984-black-sea-region-increased-its-share-of-the-global-grain-market-s-and-p-global.md) | +1.3% | +0.6% |
| CORN | 2024-06-13 | [Falling demand for wheat and corn in China could crash global markets](https://feedsoft.ai/events/14743-falling-demand-for-wheat-and-corn-in-china-could-crash-global-markets.md) | -2.1% | -8.8% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/031220-s-korea-joins-buying-spree-for-black-sea-new-crop-feed-wheat

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.