The Turkish state grain board TMO began buying animal feed barley on Thursday in an international auction. Initially, about 25,000 metric tonnes were purchased by the TMO.

The tender was for a total of 225,000 metric tonnes and it is expected that more will be bought later on Thursday.

Initial purchases are believed to have taken place in multiple consignments, at estimated prices ranging from $231.90 - $237.80 per ton for shipping to Bandirma.

The final confirmation of the purchases made in TMO tenders will be given in the coming days. The purchase can be cancelled in full.

Both imports and supplies in Turkey already stored in warehouses can be included in the tender. The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.

(source: Reuters)