Algeria's ONAB pays $3/mt more, as buys Argentina's corn for May

Algeria's state grains buyer has paid $3/mt more versus its previous purchase to buy Argentinian corn for May shipment, market sources have told Agricensus Thursday.

The Office National des Aliments du Betail (ONAB) is said to have paid around $195-196/mt CFR for 40,000 mt of corn for shipment during the first half of May.

The sale came barely a week after ONAB booked a rare US corn cargo at a tender that closed on April 1 for second half April-May 5 shipment at $192-193/mt CFR.

Algeria has a preference for Argentinian corn, but high prices in the South American market on the back of logistics issues meant corn from Argentina was not economic.

However, since then the situation in Argentina has improved and prices have fallen, with offers in the Up River complex heard at 95 cents over the May contract for May loading, or around $5/mt lower since last week.

As such, Algeria has switched back to its usual supplier.

Details of previous Algerian bookings can be found on the Agricensus Tender Dashboard.