December 29, 2011
A tender for up to 60,000 tonnes of soy from the US or Brazil closed on Wednesday (Dec 28) without any offers or purchase by Taiwan's Breakfast Soybean Procurement Association (BSPA), European traders said.
Prices were said to be too high following a sharp rise in soy prices on Tuesday.
US soy rose 3% to a six-week peak on Tuesday while corn climbed more than 2% and into positive territory for 2011 as dry weather and heat in South America threatened each crop.
The tender had sought 40,000 to 60,000 tonnes of soy with shipment between January 21 and February 4 from the US Gulf Coast or from South America.