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

They said that the yellow corn was bought at a premium estimated to be 177.28 U.S. Cents per bushel, cost and freight included (c&f), over the Chicago corn contract for May 2026.

Bunge was thought to be the seller. The reports are based on the assessments of traders, and future estimates about prices and volume may be possible. Traders said that U.S. Corn was the dominant product in the tender.

Eight trading companies offered 65,000 tonnes of U.S. products each. Trading house Panocean was said to have offered the next-lowest U.S. offer, which was a premium of 179.00cents per bushel over Chicago.

Amaggi, a trading house from Chicago, offered 65,000 tons (c&f) of Brazilian corn at 217 cents per bushel. There were no offers for Argentine corn or South African grain.

The corn must be sourced in the U.S. Gulf region, Brazil, or Argentina.

The shipment must be made between January 30, 2026 and February 18, 2020 if it is sourced from either the Pacific Northwest Coast of the United States or South Africa.

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 Ros Russell in Hamburg)

(source: Reuters)