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HAMBURG: The lowest offer in the first round of a tender from Turkey's state grain board TMO to buy 325,000 tonnes of animal feed corn on Monday was believed to be $311.92 a tonne c&f, traders said in initial assessments. The offer was said to have been submitted by trading house Viterra for 50,000 tonnes for shipment to the port of Mersin.

No purchase has yet been reported, they said. The TMO traditionally undertakes several rounds of negotiations in tenders seeking lower offers each round. The lowest price was followed by offers including $312.32, $316.32, $318.06 and $318.20 all per tonne c&f for shipment to other Turkish ports.

Shipment is sought between Dec. 20 and Jan. 20 for unloading in the Turkish ports of Derince, Iskenderun, Mersin, Izmir, Bandirma, Tekirdag, Samsun and Karasu.

The TMO reserves the right to buy up to 5% more or less than the tender volume at its own discretion and supplies already in Turkey can also be offered. The tender continues strong grain demand by Turkey after its crop suffered from drought this summer.

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