January 29, 2004

Taiwan Buys 42,000MT US Corn From Cargill

Taiwan's Members Feed Industry Group bought 42,000 metric metric tons of U.S. corn from Cargill in a tender concluded Thursday, according to a Taipei-based trader.

The group is paying a premium of 182.60 cents a bushel to the Chicago Board of Trade's May corn contract, cost and freight basis, for the corn, said the trader.

The group is also paying a freight price of $179.15/ton, the trader added.

Shipment dates are March 3-17 from the U.S. Gulf, or March 17-31 from the Pacific Northwest.

Jan. 15, MFIG bought 47,000 tons of U.S. corn from Mitsui & Co. in a tender. It bought 14,160 tons at $172.24/ton, cost and freight basis, and the remaining 32,840 tons at a premium of 165.52 cents a bushel to the CBOT May contract, C&F basis.