Turkey’s TMO tender sees Iskenderun corn delivery cancelled

Turkey’s TMO buy tender for corn has seen one of the 12 cargoes secured Wednesday cancelled, with the cost cited as the possible reason, according to Turkey-based market sources said Thursday.

The Iskenderun delivery had reportedly been agreed at TRY 738/mt, around $193.25/mt, some $10/mt higher than deliveries into the ports of Derince, Izmir and Mersin, with Erser scheduled to supply the 12,000 mt parcel.

“No official explanation has been given, but I suppose it is because of prices,” one source told Agricensus via email.

“Mersin was offered and booked at TRY 720/mt… however, freight to Iskenderun and Mersin are usually the same,” the source said.

The tender had already fallen short of expectations, with sources anticipating 156,000 mt but settling instead on 120,000 mt divided into ten 12,000 mt parcels.

CHS had sold the Mersin cargo at TRY 720/mt, according to market sources, with Tiryaki and Glencore selling the bulk into the port of Derince.

Officials at either Erser or the grain marketing board TMO could not be reached for comment.