Adds other offers, detail
HAMBURG, Nov 9 (Reuters) – Taiwan’s MFIG purchasing group has bought about 65,000 tonnes of animal feed corn expected to be sourced from Brazil in an international tender that closed on Wednesday, European traders said.
It was believed to have been sold by trading house Cargill.
The corn was purchased at an estimated premium of 192.69 U.S. cents a bushel c&f over the Chicago March 2023 corn contract CH3, they said.
Offers had been sought for corn sourced from the United States, Brazil, Argentina or South Africa.
Traders said Brazilian corn dominated offers in the tender, with a total of eight shipments from Brazil each of 65,000 tonnes submitted, including Cargill’s winning offer.
One offer was submitted for 65,000 tonnes of Argentine corn believed to come from trading house Pan Ocean at an estimated premium of 191.44 U.S. cents a bushel c&f over the Chicago March 2023 corn contract, they said.
But Argentine corn was not favoured because of quality concerns and the group was seeking premiums from Argentina well below other origins, traders said.
No offers were reported for corn from the United States or South Africa.
Shipment was sought between Jan. 8 and Jan. 27, 2023, if the corn is sourced from Brazil, traders said.
In its last reported tender on Oct. 12, the MFIG group bought about 65,000 tonnes of corn, also expected to be sourced from Brazil.
(Reporting by Michael Hogan, Editing by Mark Potter)
((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))
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