December 2, 2011
The Taiwan Sugar Corp has bought 23,000 tonnes of US corn and 12,000 tonnes of US soy in a tender for the same volume which closed on Thursday (Dec 1), European traders said.
The corn was bought at US$323.50 a tonne c&f and the soy at US$507.50 a tonne c&f. Seller was said to be Bunge.
The tender had sought shipment between January 7 - 21 if from the US Gulf Coast, or January 22 - February 5 from the US Pacific Northwest.
"Shipment dates were required before the new South American soy crop comes onto the market in early 2012, so the US has a chance to win such business needed for immediate shipment," one trader said.
"It looks like a good corn sale for the US as the competition in corn is heating up."
Taiwanese buyers were also reported to have purchased Ukrainian corn in late October, signalling more competition to US supplies in the Taiwanese market.
Taiwan's Maize Industry Procurement Association purchased 60,000 tonnes of corn from Brazil in a tender on October 28 after seeking offers for US or Brazilian supplies.