Posted on - October 28, 2017 06:51:48PM
October 28, 2017 06:51:48PM
Turkey’s state grain board TMO purchased 110,000 tonnes of red milling wheat in total in a tender that closed on Thursday, traders said.
Offers below 900 Turkish lira ($234.94) a tonne c&f in the final bidding round were accepted, they said.
The purchases were made in 11 consignments each of 10,000 tonnes. Six consignments were purchased at 866 Turkish lira ($226) a tonne c&f and five at 877 Turkish lira ($229) a tonne c&f.
The tender had sought up to 150,000 tonnes but as offers above 900 lira were rejected, that limited the total bought to 110,000 tonnes, traders said.
Loading can be done only at ports in the Black Sea, Aegean and Mediterranean (except southern Cyprus and Syria), the European Union including UK ports, and in Baltic Sea ports. This would include Russia as a possible origin despite recent trade friction with Turkey.
Turkey’s wheat crop last summer was of a reasonable size but there was a lack of high quality milling wheat, traders said.
Source: Reuters (Reporting by Michael Hogan; Editing by Susan Fenton)