Turkey purchased 350,000 tons of corn in a tender, but 300,000 tons of them are already in domestic warehouses

According to Reuters, the Turkish Grain Agency TMO held an international tender for the purchase of feed corn on February 26, at which it purchased, as planned, 350 thousand tons of grain.

It is worth noting that the bulk of the contracted volume (300 thousand tons) is already within the country and purchased on an EXW basis from bonded warehouses, and only 50 thousand tons are purchased on a CFR basis, i.e. will be imported into the country.

In the CFR segment, two lots of 25 thousand tons were won by Team Agro, which offered a price of $243.9/ton CFR Karasu and $243.4/ton CFR Izmir.

On an EXW basis, corn was purchased at a price of $250.9–252.7/t, which approximately corresponds to $242.9–244.7/t on a CFR basis.

According to the terms of the tender, corn must be delivered from March 9 to April 6 in batches of 25,000 tons to the ports of Izmir, Adana, Mersin, Tekirdag, Samsun, Iskenderun and Bandirma.

The tender results have not yet been officially approved, but they indicate that the TMO is prioritizing existing stocks over new imports, which will limit demand for imported corn from Turkey in the short term.