NEWS
Asian Grain Buyers Favor Corn
Mon Aug 26, 2013 07:28 AM CDT

SINGAPORE (Dow Jones) -- Asian grains buyers are turning toward corn from wheat to reduce costs and to take advantage of a drop in corn prices.

European corn is selling at a $30 to $40 a metric ton discount to wheat on a delivered basis in East Asian ports.

Wheat and corn are direct substitutes when making animal feed.

South Korean feed manufacturer Nonghyup Feed Inc., of Nofi, Monday cancelled a tender to import up to 60,000 tons of wheat citing prices above expectations.

Hamburg-based commodities trading company Alfred C. Toepfer International GmbH made the lowest offer at $276.74/ton. Earlier ...

Quick View
Related News Stories
DTN Retail Fertilizer Trends
Poultry's Pains
Mandatory or Voluntary Runoff Rules?
Cattle Industry Reboot
Profit Makeover
The Market's Fine Print
Competing for Dollars
Herd Building
Drought Recovery
Drought Recovery