Chinese buyers purchased about 300,000 T Ukrainian corn

HAMBURG: Chinese buyers bought about 300,000 tonnes of Ukrainian corn in around the last ten days, European traders said.

Some Chinese buyers have cancelled corn purchases from the United States and switched to rival supplier Ukraine, as Beijing tightens controls on processing genetically modified strains of the crop, trade sources and an analyst told Reuters.

Ukrainian purchases were made by private buyers initially at around $181 a tonne FOB to final buying around $183 a tonne FOB this week.

Shipment was mostly in March.

Purchases were made in consignments of some 60,000 tonnes.