Taiwan buys 65,000 tonnes of US corn

Taiwan's feed industry procurement association MFIG purchased about 65,000 tonnes of corn expected to be sourced from the United States in an international tender on Wednesday, European traders said. The corn was all bought at a premium of 166.99 US cents c&f over the Chicago September corn contract, traders said. The seller was believed to be Japanese trading house Mitsui.
Shipment was sought for May 27-June 15 if sourced from the US Gulf, Brazil or Argentina or alternatively for June 11-June 30 if sourced from the US Pacific North West Coast or South Africa. South Korea's Major Feedmill Group (MFG) on Wednesday issued an international tender to purchase up to 140,000 tonnes of corn while Korea's Feed Leaders Committee (FLC) purchased about 65,000 tonnes of corn believed to be sourced either from the United States or South America in a private, non-tender deal on Tuesday.
Analysts expect the US Department of Agriculture on Thursday to project a decline in US corn plantings for 2018 compared as farmers switch to soybeans which some traders say could support corn prices. In its last reported tender on March 9, MFIG purchased about 52,000 tonnes of corn expected to be sourced from South Africa.