European traders reported on Friday that Algerian state agency ONAB purchased an unknown quantity of animal feed corn from Argentina or Brazil as part of an international tender which ended on Thursday. The tender was for up to 240.000 tons.

Traders estimated that at least two consignments totaling about 80,000 tonnes were purchased. Unconfirmed reports on the market suggested a larger order.

Traders said that the purchases were under $240 per ton, including freight and cost.

The tender only sought corn from Argentina or Brazil for shipment in October, in six consignments of between 30,000 to 40,000 tons each.

The results reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan reports.

(source: Reuters)