Algeria Purchases Corn Feed from South America

European traders noted on Wednesday that the official grain buyer in Algeria, the National Cereals Office, is believed to have purchased an unspecified quantity of corn feed. Speculation suggests that it is from sources in Argentina or Brazil, in an international tender that could reach up to 240,000 metric tons, which closed yesterday, Tuesday. The traders added, "The purchase price is expected to be around $250 per metric ton, including shipping costs, with the belief that the deal includes one or two shipments with loading dates in July and August." Preliminary estimates place the quantity purchased between 40,000 and 80,000 metric tons.