European traders reported that the MFIG group of Taiwan bought approximately 65,000 metric tonnes of animal feed corn, which was expected to come from the United States during an international auction on Wednesday.

They said that the yellow corn was bought at a premium estimated to be 177.00 U.S. Cents per bushel, cost and freight included (c&f), over Chicago's March 2026 corn contract.

The seller is believed to be CHS Trading House.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

The tender, according to traders, was dominated by U.S. supply. Twelve trading companies offered 65,000 tons each. Cargill, a trading company, was said to have offered a premium over Chicago of 179.69cents c&f for U.S. Corn.

Traders initially did not report any offers for corn from Brazil, Argentina or South Africa.

The tender confirmed the competitiveness of U.S. Corn in export markets compared with Brazilian or Ukrainian corn, a European trader stated.

Traders said that if corn was sourced from the U.S. Gulf coast, Brazil, or Argentina, shipment would be between November 1 to November 20. Traders said that if the corn is sourced from South Africa or the U.S. Pacific Northwest Coast, shipment would be between November 16 and 5.

Traders said that due to concerns over poor quality, Argentine Corn would only be accepted if the price was the lowest offered, and the bushel price at least four cents below the next cheapest offering from another origin.

The MFIG buying group purchased approximately 65,000 tons in its last tender, which was reported on July 30. This feed corn came from the United States. (Reporting and editing by Rashmi aich, with Michael Hogan)

(source: Reuters)