Viterra secures lion’s share of Turkey’s 325k mt TMO corn tender

Final results of Turkey’s state-backed corn buy tender shows that international trader Viterra secured the bulk of the volume sold with 150,000 mt of corn offered into the ports of Derince, Iskenderun and Mersin, trade sources said Thursday.

That amounted to 46% of the 325,000 mt that TMO had been looking for, with local player MKM also picking up 50,000 mt split between Tekirdag and Samsun, and the balance of the positions shared between ADM, Louis Dreyfus, VA Intertrade, Erser and Ameropa.

Each had secured one 25,000 mt cargo at the tender’s conclusion, with Ameropa the only company to have shown offers into all of the eight ports that TMO was looking to cover.

Viterra secured 50,000 mt into Derince at $307.40/mt, with similar parcels sold into Iskenderun at $311.60/mt and Mersin at $306.90/mt, all on a CFR basis.

MKM sold 25,000 mt into Tekirdag and Samsun both at $309.80/mt CFR.

ADM and Louis Dreyfus supplied a 25,000 mt cargo apiece into Izmir at $312.75/mt and $307.75/mt respectively, with ADM selling on an ex-works basis, and Dreyfus on CFR.

The port of Bandirma was covered by two 25,000 mt parcels from Erser, at $319.25/mt EXW, and VA Intertrading at $314/mt CFR.

Finally, Ameropa secured one 25,000 mt position into Karasu at $317/mt CFR.

For more information on Turkey’s recent buying, please see our Tender Dashboard.