European traders reported that the MFIG buying group in Taiwan purchased about 65,000 metric tonnes of animal feed grain expected to come from Brazil during an international auction on Wednesday. They said that the yellow corn purchased was at a premium estimated to be 194.99 U.S. Cents per bushel, cost and freight included (c&f), over Chicago's December 2024 contract for corn.

Trading house ADM is believed to be the seller.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

The traders stated that if corn was sourced in the U.S. Gulf or from Brazil, Argentina or Brazil, shipment would be between September 18 and October 7. If the corn is sourced from South Africa or U.S. Pacific Northwest Coast, traders are looking for shipment between October 3 and 22. Michael Hogan reported on this story.

(source: Reuters)