October 7, 2004

Taiwan Great Wall Buys 111,950 MT US Corn

Taiwan's Great Wall Enterprise Co. bought two cargoes of U.S. No. 2 yellow corn totaling 111,950 metric tons from trading house Cargill in a tender concluded Wednesday, said a Taipei-based trader who received the tender result.

Cargill sold the first cargo at $143.81 a ton for 20,000 tons and 153.29 U.S. cents a bushel over the Chicago Board of Trade's March corn contract for the remaining 36,000 tons.

As for the second cargo, Cargill sold 20,500 tons at $144/ton and the remaining 35,450 tons at 153.79 cents a bushel over the CBOT's March corn contract, the trader said.

All the prices are after cost and freight to Taiwan, the trader said.

The first cargo is set to be shipped either Nov. 1-15 from the U.S. Gulf, or Nov. 16-30 from the Pacific Northwest. The second cargo is scheduled to be shipped either Nov. 16-30 from the U.S. Gulf or Dec. 1-15 from the Pacific Northwest, the trader said.