HAMBURG: Algerian state agency ONAB is believed to have purchased about 40,000 tonnes of corn likely to be sourced from South American in a tender which closed on Tuesday, European traders said.

Argentina was seen as the most likely South American origin.

The corn was believed to have been purchased at around $196 to $196.75 a tonne c&f.

The corn was sought for shipment between Aug. 20 and Sep. 5, they said.