HAMBURG: The lowest offer in the first round of Turkish state grain board TMO's tender to buy 350,000 tonnes of animal feed corn on Tuesday was believed to be $246.90 a tonne cost and freight (c&f), traders said in initial assessments.

The corn is sought for shipment in two possible periods - between Dec. 2-18, 2020, or between Jan. 1-18, 2021 - to a series of Turkish ports.

The offer was said to have been submitted by trading house Cargill for 30,000 tonnes.

The corn is for the December shipment position for unloading in the port of Derince.

The lowest offer for the January shipment period was believed to be $247.38 a tonne c&f submitted by trading house CHS, also for 30,000 tonnes for unloading in Derince.

No purchase has yet been reported, they said. The TMO traditionally undertakes several rounds of negotiations in tenders, seeking lower offers each round.

A separate tender from the TMO for 155,000 tonnes of feed barley also closed on Tuesday.