HAMBURG: Taiwan’s MFIG purchasing group bought an estimated 65,000 tons of animal-feed corn expected to be sourced from Brazil in an international tender on Wednesday, European traders said.
The yellow corn was purchased at an estimated premium of 214.78 US cents a bushel, cost and freight (c&f) included, over the Chicago March 2027 Chicago corn contract, they said.
Seller was believed to be trading house Cargill. Reports reflect assessments from traders, and further estimates of prices and volumes are still possible later. MFIG had cancelled a tender for 65,000 tons last week with no purchase made, and then tendered again in the hope of lower prices, with corn futures falling as the US harvest gathers speed.
The lowest price offer in last week’s tender on October 14 was said to be a premium of 224 US cents a bushel c&f over the Chicago March 2027 corn contract for 65,000 tons of US-origin yellow corn. “It looks like the delay was a rather good decision,” one trader said. Wednesday’s tender was dominated by US and Brazilian corn, with four trading companies each offering 65,000 tons of US corn and seven companies offering consignments of between 58,000 and 65,000 tons from Brazil.
The lowest price offer for US corn was estimated to be a premium of 224.90 cents c&f over Chicago, said to have been submitted by trading house CHS for 65,000 tons.
No offers were immediately reported for Argentine or South African corn. Shipment was sought in 2026 and 2027 between December 13 and January 1 if the corn is sourced from the US Gulf, Brazil or Argentina, traders said.
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