Corn from Ukraine remains the most attractive for Turkish importers due to its high quality

The demand for imported wheat from Turkish buyers may remain limited in the short term due to the current quota policy and sufficient domestic stocks. This was reported by Gozde Karagoz, the broker of Atria Brokers, during her presentation on November 20 at the online meeting of Trend & Hedge Club.

She pointed out the need to monitor the progress of grain sales from the Turkish Grain Council (TMO) stocks, noting that more than 1 mln tons of wheat are currently stored in customs warehouses. Given the 15% import quota, these stocks will be consumed in the first place.

The expert noted that after the new year, if the sales of the TMA go as expected, importers expect to receive 50% of the allocated wheat quota, and in the best case scenario – up to 60%. If this happens, the demand for Russian wheat is expected to increase.

However, rumors that Russia may potentially reduce its wheat export quota for the second half of the season to 8-10 million tons may limit price advantages, making future imports less attractive.

As for corn, Turkey is already receiving significant imports, with the current quota of 1 million tons likely to be fully utilized by mid-December. The demand for corn is expected to remain low until the new quota is announced. Turkish importers have already signed contracts for more than 500 thousand tons over the current quota.

“Despite these restrictions, Ukrainian corn remains the most attractive for Turkish importers, especially for feed production,” Karagoz added, noting that the high quality of this year’s Ukrainian corn continues to meet the needs of the Turkish market.

Tags: Ukraine, corn, Turkey, wheat