
Taiwan's MFIG buys about 65,000 T corn from Brazil, traders say
The yellow corn was purchased at an estimated premium of 161.20 US cents a bushel, cost and freight (c&f) included, over the Chicago December 2025 corn contract, they said.
The seller was believed to be trading house CJ International. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
The tender was dominated by Brazilian corn, with a total of eight companies, each offering 65,000 tons.
Two offers each of 65,000 tons for US corn were reported, with the lowest at 176.20 cents over Chicago December said to have been submitted by trading house ADM, traders said.
One offer for 65,000 tons of Argentine corn was reported at 173.43 cents over Chicago December said to have been submitted by trading house ETG.
No offers were initially reported for South African corn.
Shipment was sought in the tender between August 19 and September 7 if the corn was sourced from the US Gulf, Brazil or Argentina, traders said. If sourced from the US Pacific Northwest coast or South Africa, the shipment was between September 3-22.
South Korea's MFG buys 68,000 tons corn in private deal, traders say
The tender follows heavy Asian corn purchasing on Tuesday, especially by South Korean importers, after early week falls in Chicago corn futures.
Reported progress in trade talks between the US and China could also increase corn prices in the coming weeks if China again buys US grains, traders said.
Buying was also sparked by Asian importer concerns about rising costs for bulk carrier charters, which increase shipping costs.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
27 minutes ago
- Business Recorder
Brussels says EU-US deal ‘better than trade war' with Trump
BRUSSELS: The EU's top negotiator on Monday defended a trade agreement with the United States to avert steeper tariffs as 'the best deal we could get under very difficult circumstances'. 'I'm 100 percent sure that this deal is better than a trade war with the United States,' EU trade commissioner Maros Sefcovic told journalists. EU chief Ursula von der Leyen on Sunday struck an accord with US President Donald Trump that will see exports from the bloc subjected to 15 percent tariffs – but no tariffs for US exports to Europe. The agreement meant Brussels staved off a threat from Trump to hit Europe with levies twice as high if no deal was struck by August 1. EU trade chief heads to Washington in search of tariffs solution But it still drew stinging criticism from some European capitals and industries who accused the EU of giving in too easily to the US leader. 'It is a dark day when an alliance of free peoples, united to affirm their values and defend their interests, resorts to submission,' French Prime Minister Francois Bayrou wrote on X. Sefcovic urged those taking issue with the deal to 'pause for the moment and consider the alternative'. 'A trade war may seem appealing to some, but it comes with serious consequences. With at least a 30 percent tariff, our transatlantic trade would effectively come to a halt,' he said. 'Our businesses sent us a unanimous message, avoid escalation and work towards a solution.'


Business Recorder
27 minutes ago
- Business Recorder
Indian rupee slips but sidesteps firmer dollar as flows dominate price-action
MUMBAI: The Indian rupee dipped on Monday as month-end dollar bids from importers exerted some pressure, but the currency largely sidestepped the spillover from a firmer dollar, which traders indicated was due to the absence of substantial outflows. The rupee closed at 86.6650 against the U.S. dollar, 0.2% down from its close of 86.5150 in the previous session. While the rupee was trading marginally stronger in the first half of the session, it reversed course in the latter half as the dollar index rose. Asian currencies were a tad lower on the day, with the offshore Chinese yuan down by 0.1%. The rupee is 'only reacting to flows' over recent sessions, and has found some support above 86.60, a trader at a state-run bank said, pointing to price action driven by foreign portfolio flows and corporate activity. India's benchmark equity indexes, the BSE Sensex and Nifty 50 fell 0.7% and 0.63% on the day, respectively, diverging from gains in most regional equities. The country's benchmark 10-year bond yield, meanwhile, ticked up to 6.3603%. Equities in Europe were mostly higher while the euro fell, after the U.S. and EU reached a trade agreement over the weekend and investors welcomed the deal with cautious optimism. Indian rupee slides for third straight week as tariff deadline, Fed decision near The euro's recent price action 'likely reflects more general U.S. dollar sentiment that was improving toward the end of last week, and we suspect (the sentiment) could extend further this week as investors' optimism over the U.S. economy improves,' MUFG said in a note. U.S. economic data, including the closely watched non-farm payrolls report, will be in focus as investors gauge how far the optimism extends. The Federal Reserve, meanwhile, will deliver its policy decision on Wednesday and is widely expected to keep rates unchanged. Interest rate futures are currently pricing in a little over 60% chance of a rate cut in September, per CME's FedWatch tool.


Business Recorder
an hour ago
- Business Recorder
Palm extends losses on weak rival oils, concerns over rising output, stocks
KUALA LUMPUR: Malaysian palm oil futures traded lower for a second session on Monday, weighed down by weak rival edible oils, while concerns over rising output and inventory levels also pressured prices. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid 34 ringgit, or 0.8%, to 4,239 ringgit ($1,002.60) a metric ton at the close. Crude palm oil traded lower due to weakness in the Dalian and the soyoil market during Asian hours, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. 'Rising production and stock levels could be seen as weighing down on market sentiment as well,' he said. Dalian's most-active soyoil contract fell 0.49%, while its palm oil contract shed 0.42%. Soyoil prices on the Chicago Board of Trade (CBOT) lost 0.29%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Palm snaps three-week rally on profit-taking, output concerns Oil prices edged higher as investors assessed a trade deal between the United States and the European Union, while a stronger U.S. dollar and lower oil imports by India weighed on prices. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Cargo surveyors estimated exports of Malaysian palm oil products for July 1-25 to have fallen between 9.2% and 15.2% from a month earlier. The ringgit, palm's currency of trade, weakened 0.24 against the U.S. dollar, making the commodity slightly cheaper for buyers holding foreign currencies.