Egypt’s GASC cancels yellow corn tender

Egypt’s General Authority for Supply Commodities (GASC) has reportedly cancelled an international tender for yellow corn purchase on Wednesday. The purchase was $231 per ton for 60,000 metric tons of corn on a free-on-board basis, according to Nasdaq citing traders.

GASC did not give a reason for the cancellation, but traders said that high prices were a potential reason. Suppliers were asked to submit offers on a free-on-board basis for at sight payment, as the deadline for offers is Aug. 23.