Raises total bought to 250,000 tonnes, adds price table, detail

HAMBURG, Nov 25 (Reuters)Turkey’s state grain board TMO has begun provisional wheat purchases in an international tender that closed on Thursday, buying about 250,000 tonnes initially, traders said.

The tender sought about 385,000 tonnes and more purchases are expected later on Thursday.

The tonnages purchased are provisional and subject to final confirmation in the coming days. Purchases can be reduced or cancelled completely.

The tender sought wheat with 12.5% and 13.5% protein content for shipment to several Turkish ports between Jan. 10 and Jan. 31.

Some wheat is being offered from warehouses in Turkey. Traders said some export houses have been shipping Russian wheat into Turkey in advance of actual sales to escape repeated increases in Russian export taxes.

Summit Rock Advisors

Traders reported the following provisional purchases, showing port of delivery, tonnes sold, protein content, seller, price in dollars a tonne c&f and whether the wheat is coming from warehouse supplies already in Turkey:

Port Tonnes Protein Seller Price If warehouse

Iskenderun 25,000 13.5% Aston $381.79 warehouse

Iskenderun 25,000 13.5% Grainstar $381.69 warehouse

Mersin 25,000 12.5% Yayla $379.90 warehouse

Mersin 25,000 13.5% Aston $384.00 warehouse

Izmir 25,000 12.5% Yayla $387.40 warehouse

Izmir 25,000 12.5% Yayla $385.80

Derince 50,000 12.5% Cargill $381.90

Bandırma 50,000 13.5% GTCS $390.90

Sales not marked as “warehouse” will be imported.

The tender continues an active period of grain imports by Turkey to cool local prices and secure domestic supplies after the country’s cereals crop was hit by drought, traders said.

In its previous wheat tender on Oct. 21, the TMO purchased an estimated 300,000 tonnes at a lowest price of $338.68 a tonne c&f.

(Reporting by Michael Hogan Editing by David Goodman )

((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))

Source: Nasdaq

Summit Rock Advisors

LEAVE A REPLY

Please enter your comment!
Please enter your name here