Taiwan's MFIG buys about 65,000 tonnes corn from Argentina

HAMBURG: Taiwan's MFIG purchasing group bought about 65,000 tonnes of animal feed corn, expected to be sourced from Argentina in an international tender which closed on Wednesday, European traders said.

The corn was purchased in a single consignment, at an estimated premium of 264.12 US cents a bushel c&f over the Chicago September 2021 corn contract, they said.

The seller was believed to be trading house Cargill, they said.

Shipment in the tender is sought between May 27 and June 15 if the corn is sourced from the US Gulf, Brazil or Argentina, they said.

If sourced from the US Pacific Northwest coast or South Africa, the shipment is sought between June 11 and June 30.

Offers were reported for US, Argentine and South African corn, but not for Brazilian grain.

A total of six offers were made for Argentine corn, all for the full 65,000 tonnes. Four offers all of 65,000 tonnes were made for US corn, with the lowest at 278.79 US cents a bushel c&f over the Chicago September.

One offer was made for South African corn at 268.82 US cents a bushel c&f over the Chicago September.

In its last reported tender on March 2, the MFIG group bought about 65,000 tonnes of corn also from Argentina.