September 16, 2003

Taiwan Feed Firms Tender 56,000 Tons US Corn

A group of Taiwan feed companies have agreed to buy 56,000 metric tons of U.S. corn from Agrex in a tender bid Tuesday, said traders in Taipei.

Of the total, the companies agreed to buy 30,500 tons at a premium of118.94 U.S. cents a bushel to the Chicago Board of Trade's December corn futures, cost and freight, said traders.

The remaining 25,500 tons were purchased at US$135.40 a ton, C&F, said traders.

Shipment dates will be Nov. 1-15 from the U.S. Gulf, or Nov. 16-30 from the Pacific Northwest.

Taiwan's Members Feed Industry Group (MFIG) agreed to buy 56,000 tons of U.S. corn from Marubeni in a tender September 5. Of the total quantity, MFIG agreed to buy 40,660 tons at a premium of 113 U.S. cents per bushel to CBOT December, C&F. The remaining 15,340 tons were purchased at US$141.60 a ton, C&F. Shipment dates were Oct. 27 to Nov. 10 from the U.S. Gulf, or Nov. 12-25 from the Pacific Northwest.