Taiwan's MFIG Snaps Up 65,000 Tons of Brazilian Corn at Premium Rate

Taiwan's MFIG, a major animal-feed buying group, made a significant purchase of Brazilian corn in a recent tender. The company snapped up around 65,000 metric tons of yellow corn, with traders estimating that the cargo is likely to be sourced from Brazil after no US offers showed up.

The tender was priced as Chicago futures plus a premium, which covers the cost of shipping and sourcing the crop. Traders estimated MFIG's deal at around a 188.10 US cents-per-bushel cost-and-freight premium over the Chicago March 2027 corn contract. The offer list was lopsided, with 11 companies each offering 65,000 tons of Brazilian corn.

The pattern echoes MFIG's last reported purchase on July 30th, which was also for roughly 65,000 tons from Brazil. This suggests that the most important price signal right now is in physical export premiums tied to Brazil, not necessarily in the headline Chicago futures price.