Taiwan’s MFIG buys about 55,000 tonnes corn from South Africa -traders (updated)
03/08/2022 08:05
(Adds prices, detail from paragraph three)
HAMBURG, Aug 3 (Reuters) - Taiwan's MFIG purchasing group
bought about 55,000 tonnes of animal feed corn expected to be
sourced from South Africa in an international tender that closed
on Wednesday, European traders said.
It was believed to have been sold by trading house Viterra.
The corn was purchased at an estimated premium of 254.82
U.S. cents a bushel c&f over the Chicago December 2022 corn
contract CZ2 , they said.
The tender had sought shipment from South Africa between
Oct. 16 and Nov. 4.
Offers had been sought for corn sourced from the United
States, Brazil, Argentina and South Africa.
No offers of U.S. corn were reported and the winner was the
only offer reported from South Africa.
Six offers of Brazilian corn each of 65,000 tonnes were
reported, with the lowest at 259.50 cents over the Chicago
December contract from trading house Amaggi.
Two offers of Argentine corn each of 65,000 tonnes were
reported, one at 252.96 cents over Chicago December from trading
house Pan Ocean and so cheaper than the South African corn.
But Argentine corn was not favoured because of quality
concerns and the group was seeking premiums from Argentina
around 6 cents below other origins, traders said.
Chicago corn futures closed lower on Tuesday as maritime
exports from Ukraine resumed, the dollar rallied and U.S. crop
condition ratings held steady despite a hot spell last week in
the U.S. Midwest. urn:newsml:reuters.com:*:nL1N2ZE21M
(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))