April 28, 2012

Taiwan Sugar rejects US corn, soy tender

The Taiwan Sugar Corp. has passed all offers and did not tender to buy 23,000 tonnes of US-origin corn and 12,000 tonnes of US-origin soy, which ended on Thursday (Apr 26), European traders said.

"Prices offered seemed to be much higher than previous expectations following the surge in Chicago prices in recent days," one European trader said.

US soy touched their highest levels since 2008 in Chicago on Wednesday on prospects of smaller South American harvests while corn rose on strong US exports to China.

The tender had sought shipment between June 11-25 from the US Gulf Coast, or June 26-July 10 from the US Pacific Northwest.