July 3, 2007

 

Israel tenders for 56,000 tonnes of yellow corn

 

 

A group of buyers from Israel has issued a tender seeking 56,000 tonnes of yellow corn from the United States or South America, European traders said on Monday (July 2).

 

South American suppliers were likely to be Argentina or Brazil.

 

The consortium was seeking also seeking alternate bids for 40,000 to 48,000 tonnes of corn and 8,000 to 16,000 tonnes of US or South American sorghum.

 

As a third alternative it was also seeking bids for 48,000 tonnes of corn and 8,000 tonnes of soymeal.

 

The bidding deadline was July 3.

 

Shipment from the United States was Sept 1 to 20 and from South America between Aug 25 and Sept 15.

 

On June 21, a group of Israeli private buyers purchased 85,000 tonnes of Argentine corn and 8,000 tonnes of US sorghum in an international tender.

 

The corn was said to have been purchased at 165 cents a bushel over Chicago's September corn contract.

 

Feed grain importers have been seeking alternatives after Ukraine has banned its exports and expensive EU grain prices. US and Argentine corn are expected to fill the gap.

 

Although Argentine corn suppliers are aggressively bidding, increasing ocean shipping costs from the South Atlantic to Israel have prompted to US to corner the Israeli market.