File image: Reuters

Hamburg - Taiwan's maize industry procurement association MFIG has purchased 50,000 tonnes of corn to be sourced from South Africa in an international tender which closed on Tuesday, European traders said.

It was purchased from Glencore for shipment between September 19 to October 8, traders said.

Some 2,000 tonnes was purchased at the flat price of $229.87 (R2,436) a tonne c&f.

The remaining 48,000 tonnes was purchased at a premium of 206.50 cents a bushel c&f over the Chicago December corn contract, they said.

The group had also sought offers for corn for shipment between September 5-24 from the US Gulf coast or Brazil, and between September 19 to October 8 from the US Pacific Northwest coast, traders said.

In the first round of the tender, US corn was offered at the flat price of $261.59 a tonne c&f and a premium of 288 cents over the December corn contract, traders said.

Only one US offer was made in the tender, they said.

Lowest flat offer in the first round for Brazilian corn was $230.10 a tonne c&f and lowest premium offered was 211 cents over December, they said. - Reuters