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Taiwan’s MFIG buys about 55,000 tonnes corn – trade

Taiwan’s MFIG purchasing group bought about 55,000 tonnes of animal feed corn to expected to be sourced from South Africa in an international tender which closed on Tuesday, European traders said.

The corn was purchased in a single consignment, all at an estimated premium of 249.38 U.S. cents a bushel c&f over the Chicago December 2021 corn contract CZ1, they said.

The seller was believed to be trading house Viterra, they said.

The tender was dominated in volume terms by Argentine corn, with seven trading houses each offering 65,000 tonnes but at the lowest premium of 259.69 cents c&f over the Chicago December contract.

One offer was made for 65,000 tonnes of Brazilian corn at 310.00 cents over Chicago December. No offers were reported for U.S. corn.

The tender sought shipment between Oct. 6 and Oct. 25 if the corn is sourced from the U.S. Gulf, Brazil or Argentina, they said. If sourced from the U.S. Pacific Northwest coast or South Africa, shipment was sought between Oct. 21 and Nov. 9.

In its last reported tender on June 30, the MFIG group bought about 55,000 tonnes of corn also to be sourced from South Africa
Source: Reuters (Reporting by Michael Hogan, editing by Louise Heavens)

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