Taiwan purchased 65 thsd tons of feed corn
On June 17, Taiwan’s MFIG Group purchased 65,000 tonnes of Brazilian feed corn at a tender from CJ International, Reuters reported.
The purchase price was equal to the December CBOT corn contract plus a premium of 220.44 cents per bushel on a C&F basis.
Under the tender terms, shipment will take place between August 14 and September 2 or August 29 and September 17, depending on origin.
According to traders, the tender primarily involved South American corn:
- Brazil – five shipments of 65,000 tonnes and one shipment of 58,000 tonnes
- Argentina – three shipments of 65,000 tonnes
- US – one shipment of 52,000 tonnes
Bunge offered the minimum price for Argentine corn, adding 234.79 cents to the December corn contract. The lowest price for American corn was offered by CHS, up 248 cents. The second most attractive offer was made by Dreyfus, up 248 cents for Brazilian corn.
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