European traders reported on Thursday that the Algerian state agency ONAB was believed to not have purchased any corn in an auction which ended on Tuesday. The tender called for 240,000 metric tonnes of corn, to be sourced exclusively from Argentina or Brazil.

Although a minor purchase cannot be ruled out, traders believe that no significant quantities were purchased.

It was thought that the 60,000 tonnes of soymeal sought in the tender were purchased in two consignments, with optional origins.

Algeria doesn't announce what it bought in its tenders, and the results are solely based on traders' assessments.

The corn was requested in six consignments ranging from 30,000 to 40,000 tons per shipment for immediate shipping between Jan. 15 and 31. Michael Hogan is reporting.

(source: Reuters)