October 18, 2004

Taiwan MFIG Buys 56,000 MT US Corn From Cargill

Taiwan's Members Feed Industry Group bought 56,000 metric tons of US No. 2 yellow corn from trading house Cargill in a tender concluded Friday, said a Taipei-based trader who received the tender result.

Cargill sold one 15,235-ton cargo at $146.88 a ton and the remaining 40,765 tons at 161.26 US cents per bushel over the Chicago Board of Trade March corn contract, the trader said.

Both prices are after cost and freight to one port in Taiwan. The cargo is set to be shipped either between Dec. 22-Jan. 5 from the US Gulf or between Jan. 6-20 from the Pacific Northwest.

Cargill has the option to provide 5% more or less of the tendered quantity.