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Wilmington eyes wheat, corn, meal imports into US

(Thursday, Oct. 16, 2003 -- CropChoice news) -- Reuters, 10/15/03: CHICAGO - Wilmington Bulk LLC, a consortium of U.S. hog and poultry producers, on Wednesday said it was shopping for 50,000 to 75,000 tonnes of soymeal from Brazil.

Wilmington Bulk President Jimmy Kissner said the Wilmington, North Carolina-based company was also planning to import at least 100,000 tonnes of corn and 100,000 tonnes of feed wheat.

He declined to disclose where the corn and feed wheat were likely to be imported from, but Wilmington had previously sourced feedgrains from Argentina and Europe.

Kissner said he had not decided on shipment dates yet.

"There's quite a bit of price difference. The basis (cash prices) has been coming down in Brazil but not in the U.S.", he told Reuters.

Soybean futures at the Chicago Board of Trade soared to their best levels in nearly six years this week after the U.S. Agriculture Department forecast this year's crop to be the smallest in seven years due to weather damage.

The United States is the world's top soybean producer and exporter, followed by Brazil and Argentina.

Wilmington has imported soymeal and corn from South America and feed wheat from Britain before, saying that domestic prices to ship them to the Southeast were higher than imports.