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HAMBURG, Might 19 (Reuters) – Taiwan’s MFIG buying group purchased about 65,000 tonnes of animal feed corn to anticipated to be sourced from Argentina in a global tender which closed on Wednesday, European merchants stated.
The corn was bought in a single consignment, all at an estimated premium of 268.25 U.S. cents a bushel c&f over the Chicago December 2021 corn contract CZ1, they stated.
Vendor was believed to be buying and selling home Cargill, they stated.
The tender sought cargo between Aug. 6 and Aug. 25 if the corn is sourced from the U.S. Gulf, Brazil or Argentina, they stated. If sourced from the U.S. Pacific Northwest coast or South Africa, cargo was sought between Aug. 21 and Sept. 9.
No affords had been reported for corn from the US.
Argentine corn dominated the tender, with eight different affords every of 65,000 tonnes made along with the winner.
Two affords had been made for Brazilian corn, each of 65,000 tonnes with the bottom at a premium of 292.50 cents over Chicago December.
One supply of 53,000 tonnes of South African corn was reported at 288.00 cents over Chicago December.
Chicago corn futures fell on Wednesday, giving up a number of the sturdy positive aspects made within the earlier two periods, though considerations over tightening world provides supplied a flooring underneath the market. GRA/
(Reporting by Michael Hogan, modifying by Jason Neely)
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