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HAMBURG: The lowest price in the first round of offers in the major tender on Tuesday from Turkiye state grain board TMO to purchase 790,000 tonnes of milling wheat was believed to be $311.49 a tonne c&f for Russian-origin wheat, traders said in initial assessments.
No purchase has yet been made and initial results of the tender are expected later on Tuesday, they said.
Russian-origin wheat was offered heavily in the tender, they said.
CBOT wheat may fall into $6.89-1/2 to $6.98 range
The TMO traditionally undertakes several rounds of negotiations seeking lower prices than the initial offers.