European traders reported on Thursday that the Algerian state agency ONAB was believed to not have made any substantial purchases in an auction which closed on February 28th for up to 320,000 tons of corn, to be sourced exclusively from Argentina or Brazil.

Although a minor purchase cannot be ruled out completely, traders believe that no significant quantities were purchased.

Algeria doesn't announce what it bought in its tenders, and the results are solely based on traders' assessments.

The tender sought corn shipment in eight consignments of between 30,000 to 40,000 tons each, with two consignments shipped in the first half and six consignments sent in the second. Michael Hogan is reporting.

(source: Reuters)