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 173.32 U.S. Cents per bushel, cost and freight included (c&f), over Chicago's March 2026 corn contract.

The seller is believed to be Cargill Trading House.

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

The corn offered was predominantly from the United States, and no corn from Brazil, Argentina, or South Africa were reported, traders stated.

Twelve trading companies offered 65,000 tonnes of corn of U.S. origin in the tender. The traders reported that the next lowest offer was a premium of 183.4 cents c&f above Chicago, which was reportedly submitted by CJ International.

The corn must be sourced from Brazil, Argentina or the U.S. Gulf between December 11, 2025.

Shipping is required between December 26, 2020 and January 14, 2026 if the product comes from South Africa or the Pacific Northwest Coast of America.

Traders said that due to concerns over poor quality, Argentine Corn would only be accepted if the price was the lowest offered, and at least four cents per bushel lower than the next cheapest offer of corn from another origin. (Reporting and editing by Louise Heavens, Michael Hogan)

(source: Reuters)