Taiwan's feed industry procurement association MFIG purchased about 65,000 tonnes of corn to be sourced optionally from the United States of Brazil in an international tender which closed on Wednesday, European traders said. The tender had sought shipment in June and July depending on the origin supplied.
The corn was all bought at a premium of 107.79 US cents c&f over the Chicago September corn contract, traders said. The seller was thought to be trading house CHS.
The tender had sought corn sourced from the United States, Brazil, Argentina or South Africa. No offers were reported on Wednesday for grain from Argentina or South Africa. "The optional US/Brazilian corn dominated the tender," a trader said.
Shipment was sought between June 27 and July 16 if the corn is sourced from the US Gulf, Brazil or Argentina. The seller would have the freedom to deliver optionally either from the United States or Brazil during this shipment period but must declare the origin to be supplied by May 27, traders said.
If sourced from the US Pacific Northwest coast or South Africa the tender sought shipment between July 12-31. In its last reported tender on March 13, MFIG purchased about 65,000 tonnes of corn expected to be sourced from Argentina.
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