Taiwan’s MFIG secures US corn, MFG tenders for two cargoes

Taiwan’s MFIG has secured one cargo of US corn at around $218/mt for July arrival, while South Korea’s MFG also issued a buy tender for two cargoes of feed corn, market sources said Wednesday.

Mitsui was rumoured to have sold the MFIG cargo, with loading expected to come from the US, and most likely the Pacific Northwest.

The tender was awarded at a $1.6699/bu premium to the September corn contract, according to a source.

MFG is also said to have tendered for two cargoes, up to 140,000 mt potentially loading from the Pacific Northwest, with the tender said to have been awarded, with Pan Ocean and Louis Dreyfus thought to be the sellers.

The previous MFIG tender was met with a South African cargo.