October 26, 2006

Taiwan's MFIG buys 60,000 tonnes US corn in tender

Taiwan's Members Feed Industry Group (MFIG), has bought 60,000 tonnes of US-origin corn from trading house Cargill in a tender concluded Wednesday (Oct 25), a trader in Taipei said.

Cargill will supply 52,000 tonnes of corn at US$193.29/tonne and the remaining 8,000 tonnes at a premium of 156.49 US cents a bushel to the Chicago Board of Trade's March contract.

If the corn is shipped from the US Gulf, it should reach Taiwan by Dec 2-16, but if shipped from the Pacific Northwest, it should reach Taiwan by Dec 17-31.