HAMBURG: Taiwan’s MFIG purchasing group bought about 55,000 tonnes of animal feed corn to expected to be sourced from South Africa in an international tender which closed on Tuesday, European traders said.
The corn was purchased in a single consignment, all at an estimated premium of 249.38 US cents a bushel c&f over the Chicago December 2021 corn contract, they said.
The seller was believed to be trading house Viterra, they said.
The tender was dominated in volume terms by Argentine corn, with seven trading houses each offering 65,000 tonnes but at the lowest premium of 259.69 cents c&f over the Chicago December contract.
One offer was made for 65,000 tonnes of Brazilian corn at 310.00 cents over Chicago December. No offers were reported for US corn.
The tender sought shipment between Oct. 6 and Oct. 25 if the corn is sourced from the US Gulf, Brazil or Argentina, they said.