Israel buys European corn as U.S. too expensive

HAMBURG (Reuters) - A consortium of Israeli private buyers has made a surprise purchaser of around 20,000 metric tons of European Union-origin corn (maize) in a tender for U.S.-origin only which closed on Wednesday, European traders said on Thursday.

"European offers were very much lower than from the U.S. which took the business away even though bids for U.S.-origin only had been sought," one trader said.

"The U.S. looks like facing sudden and heavy competition in world corn markets."

The corn sold was believed to come from Bulgaria, Romania and Hungary.

(Reporting by Michael Hogan)