European traders reported on Friday that SLAL, the state-owned importer of animal feed in Iran, is believed to have bought animal feed corn as well as soymeal at international tenders. The company was looking for around 120,000 metric tonnes each.

It was unclear what volume of corn or soymeal was purchased, but it is believed that up to three consignments of 60,000 tons each were purchased.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

On Wednesday, the tenders for corn and soybean meal shipment in January and February of 2026 had been closed.

Corn can be purchased from Brazil, Europe or other countries in the Black Sea Region.

Soymeal is only available in Brazil and Argentina.

Traders said that the Western sanctions on Iran had caused payment problems for Iranian companies, which made it difficult to participate in recent Iranian tenders.

The West has imposed sanctions on Iran because of its nuclear program, but the sanctions have affected the Iranian financial system and created complex payment arrangements.

According to traders, Iran is offering payment for the new tenders through two banks: one in Iraq and another in Turkey.

Iran wants to receive bids in Euros for its tenders. Iran has traditionally refused to use U.S. dollars for grain transactions.

Traders reported that SLAL did not purchase corn or soymeal in previous tenders. The previous tenders were for 120,000 tonnes each.

Traders said that private Iranian buyers are more active than government agencies in buying feed grain.

(source: Reuters)