Turkey’s TMO launches fresh 300,000 mt corn tender for April 24

Turkey’s state grain importer TMO has issued a fresh tender for up to 300,000 mt of corn delivered in 12,500 mt parcels, spread across six ports in two shipment windows, with the tender expected to close on April 24, market sources have told Agricensus Friday.

Typically, any offers entered by the close must stand until 9 am the following morning, while the importer negotiates with the sellers.

The tender follows much the same pattern as recent tenders, with 100,000 mt to be delivered into Derince, 75,000 mt to be delivered into Izmir and Bandirma, 25,000 mt delivered into Mersin and 12,500 mt delivered into the ports of Tekirdag and Samson.

The shipment window anticipates 200,000 mt to be loaded between May 13 and June 2, with the second shipment window applying to the balance for shipment between June 3 and June 23.

The last tender from TMO closed on March 12, with Cargill dominating much of the 300,000 mt volume and Ukraine thought to be the origin for much of the supply.

The average price for the tender was $183.84/mt.

Prior to that, TMO closed a tender for 342,000 mt of corn on January 19 with Glencore and Hakan Agro taking the bulk of the volume and the price averaging $196.36/mt.

For more information on TMO’s tenders, see our Tender Dashboard.