SINGAPORE (Dow Jones) -- Japan's animal feedmillers have started locking-in corn import deals for October-December shipment, buying around 300,000 metric tons from Ukraine and Brazil, trading executives in Tokyo and Singapore said Monday.
Millers have bought 120,000 tons of Ukraine's corn around $242/ton on a cost and freight basis. Another 180,000 tons were sourced from Brazil at 145 cents a bushel premium over the December futures contract on the Chicago Board of Trade, the executives said.
At current CBOT December futures levels, the price for the Brazilian corn works out to be around $253/ton, C&F.
"Buyers are slow in purchasing ...