July 6, 2007

EU intervention tender: Grants 49,741 tonnes Hungarian corn
 

A total of 49,741 tonnes of Hungarian corn was granted at Thursday's (Jul 5) European Union intervention resale tender, EU figures showed.

Traders bid for a total of 228,946 tonnes of corn at EUR125.11/tonne and EUR137.48/tonne. The corn granted was accepted at EUR134.08/tonne.

There were no bids in a tender to resell German rye back on the internal market.

This was the first grain granted for the 2007/08 marketing year (July-June) tenders. So far the EU has opened two tenders to resell grain held in public intervention stores including 500,000 tonnes of Hungarian corn and 50,000 tonnes of German rye.

Since last season, the EU has been allowing grain held in public intervention to be resold on the internal market due to tight supplies. The grain is not allowed to be granted below domestic or intervention prices.