Turkey’s TMO sells 100,000t of durum wheat in tender

Spanish Market: Agriculture
01/05/24

Turkish grain board TMO has sold 100,000t of durum wheat in its 30 April export tender, at a lower price than its previous sale in February.

TMO sold one 50,000t cargo of 75pc vitreous durum wheat to trading firm Viterra at $377.10/t fob Iskenderun, and one 25,000t cargo to trading firm Casillo at $380/t fob Mersin.

The board also sold 25,000t of 50pc vitreous durum wheat to Viterra at $328/t fob Mersin.

The 100,000t represents the full volume offered under the board's initial tender. All three cargoes are set to ship between 20 May and 12 June.

Tuesday's 70pc vitreous sale fob Iskenderun falls $27.70/t below TMO's previous sale on the same basis. As for 50pc vitreous fob Mersin, Tuesday's cargo changed hands at $36/t below TMO's equivalent sale in February.

That said, Turkish durum did not calculate into Algeria's latest OAIC tender, which booked Mexican-origin product at $395-410/t cfr last week, market participants said.

Turkey might have to lower durum values to compete with offered levels from Mexico and Canada, who have comfortable available supplies. Of the 5.1mn t of durum forecast to be exported from Canada in 2023-24 (August-July), a little over half has been exported in the year to date, figures from the Canadian Grain Commission show.

Turkey exported about 1.6mn t of durum wheat in the 2023-24 marketing year (beginning June 2023) to March, latest available customs data show. And in the upcoming 2024-25 marketing year, the US Department of Agriculture pegs Turkish durum exports at about 2mn t. These latest sales could boost current-year export volumes in the final month of the marketing year, or kick off Turkey's shipments for the new marketing year.

By Megan Evans

Grains, oilseeds and veg oils tenders
Buyer	Issued	Closes	Status	Cargo	Shipment/delivery	Price	Seller	Notes

Jordan's MIT	1-May	7-May	Open	100,000-120,000t milling wheat	Jun-Jul			cfr Aqaba
Jordan's MIT	24-Apr	30-Apr	Cancelled	100,000-120,000t milling wheat				cfr Aqaba
Turkey's TMO	25-Apr	30-Apr	Closed	To export 100,000t durum wheat	20 May-12 Jun	$328/t (50pc vit.), $377.10-$380/t (75pc vit.)	TMO	Sell tender. Buyers Casillo and Viterra. Fob Iskenderun, Mersin
Algeria's OAIC	22-Apr	24-Apr	Closed	200,000t durum wheat	Jun	$395-410/t		cfr
Jordan's MIT	18-Apr	24-Apr	Closed	60,000t	16-31 Jul	$217/t	Al Dhara	cfr Aqaba
Jordan's MIT	17-Apr	23-Apr	Cancelled	100,000-120,000t milling wheat	Jun-Jul			cfr Aqaba
Japan's Maff	16-Apr	18-Apr	Closed	94,612t milling wheat	Jun			US (WW-15,212t; HRW-19,060t), CA (60,340t)

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