HAMBURG: Taiwan’s MFIG purchasing group bought about 65,000 metric tons of animal feed corn expected to be sourced from the United States in an international tender on Wednesday, European traders said. The seller was believed to be trading house Pan Ocean.
The yellow corn was purchased at an estimated premium of 161.85 US cents a bushel cost and freight (c&f) over the Chicago July 2025 corn contract, they said.
Reports reflect assessments from traders and further estimates of prices and volumes are possible later. Traders said US corn dominated offers, with 11 other trading houses each submitting prices for 65,000 tons of US corn.
The other estimated US offers ranged between premiums of 162.48 to 188.69 cents a bushel c&f over the Chicago July contract. Only one non-US offer was reported, for 65,000 tons of Argentine corn at a premium of 183.90 cents over Chicago July.
Chicago corn futures reached a 16-month high above $5 a bushel on Tuesday on robust US export demand and expectations that inventories could tighten. Shipment in MFIG’s tender was sought between April 16 and May 5 if the corn is sourced from the US Gulf, Brazil or Argentina, traders said. If sourced from the US Pacific Northwest coast or South Africa, the shipment period is May 1-20. Because of concerns about poor quality, Argentine corn would only be accepted if it was the lowest price offered and at least 4 cents per bushel below the next cheapest offer from other origins, traders said.
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