Turkey widens wheat tender terms as prices keep rising

Turkey’s state grain importer again widened the terms of an upcoming wheat tender, its second change to the terms...

Turkey’s state grain importer again widened the terms of an upcoming wheat tender, its second change to the terms of a 400,000 mt deal which is expected to close Friday, as cash prices on the Black Sea continue to rise.

The Turkish Grain Board (TMO) on Wednesday told traders it would permit white wheat to be loaded in an optional origin tender, expanding the list of potential origins for cargoes to be lifted from to include suppliers such as Argentina, Australia, India, and parts of the US and Canada.

TMO’s wheat import tenders typically stipulate for red wheat to be loaded from the Black Sea, the EU, or the UK.

Wednesday’s move comes after TMO had already postponed the tender’s closing and shipment dates after bad weather across Turkey disrupted travel.

The tender is now set to close Friday with shipment for January 26-February 25.

Wheat prices in Turkey have followed the global market higher, spurred on to multi-year highs after Russia increased export duties to slow its grain sales pace.

The best-priced offers for Russian February loading 12.5% milling wheat have increased $15/mt over the past week to $295/mt CIF Marmara against bids at $288/mt.

A deal was booked for February 12.5% at $292/mt CIF Marmara on Wednesday, the highest level since Agricensus started tracking Black Sea prices in 2017.

What to read next
The publication of Fastmarkets’ molybdenum drummed molybdic oxide – in-whs Busan, MB-FEO-0004, and in-whs Rotterdam, MB-FEO-0003 – and ferro-molybdenum 65% Mo min, in-whs Rotterdam, MB-FEO-0001, price assessments were delayed because of slow data processing on Friday May 23. Fastmarkets’ pricing database has been updated. The publication of these prices was delayed for 12 minutes. The […]
Investors in the US corn and wheat markets amassed shorts in the week to Tuesday May 13, moving corn from a net long to a net short for the first time since October, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday May 16.
The UK’s domestic bioethanol industry could be at risk as a result of the recent trade deal announced between the UK and the US, industry members have warned.
Fastmarkets invited feedback from the industry on the pricing methodology for its global soybean prices, via an open consultation process between April 15 and May 10, 2025. This consultation was done as part of our annual methodology review process.
The DRC is set to decide on the future of its cobalt export ban on June 22, potentially extending, modifying or ending the policy. Aimed at boosting local refining and value creation, the ban has left global markets uncertain, with stakeholders calling for clarity as cobalt prices fluctuate and concerns over long-term demand grow.
The Mexico Metals Outlook 2025 conference explored challenges and opportunities in the steel, aluminum and scrap markets, focusing on tariffs, nearshoring, capacity growth and global trends.