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December 22, 2011


Taiwan buys 50,000 tonnes of US soy


Taiwan's Breakfast Soybean Procurement Association (BSPA) has purchased 50,000 tonnes of US soy in a tender which closed Wednesday (Dec 21), European traders said.


The tender had sought 40,000 to 60,000 tonnes of soy from the US or South America.


Shipment was required between January 19 and February 2 from the US Gulf Coast or from South America.


Seller was said to be South Korean trading house STX.


The price was said to be about US$2.06 a bushel c&f free out (ciffo) above the Chicago March soy contract.


Under the ciffo terms, ship unloading costs at destination are carried by the cargo purchaser.

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