Taiwan's maize industry procurement association MFIG purchased around 65,000 tonnes of corn thought likely to be sourced from the United States in an international tender which closed on Thursday, European traders said. The corn was all purchased at a premium of 119.43 US cents a bushel c&f over the Chicago July 2017 corn contract, traders said. The seller was trading group Cargill, they said. The corn was expected to be shipped from the US Pacific North West coast.

The tender had sought corn sourced optionally from the United States, Argentina, Brazil or South Africa. Shipment was sought for March 17 to April 5, from the US Gulf, Brazil or Argentina, they said. If sourced from the US Pacific North West coast or South Africa, shipment was sought for April 1-20, they said. In its last reported tender on December 9, MFIG purchased around 65,000 tonnes of corn expected to be sourced from the United States.

Copyright Reuters, 2017