Thailand has sold 20,000 tonnes of corn to feedstuff companies in Vietnam and Indonesia for prompt shipment, traders said on Monday. "The corn was sold at $205 per tonne free on board and we expected to ship all of it within June," said a trader at a major Thai corn exporting firm.
He said the first 10,000 tonnes was sold to Vietnam and the rest to Indonesia. Domestic corn prices traded at 7.50 baht ($0.219) per kg on Monday, down from last month's 8.50 baht per kg. Prices were expected to slip over the next few months in line with easing future prices on the Chicago Board of Trade (CBOT), which sets the global trend.
CBOT July corn contract fell 4-1/2 cents to settle at $4.44 a bushel Friday. Rising supply in Thailand also weighed on prices, traders said. Around 200,000 tonnes of corn was expected to be harvested in June and July.