Turkey begins selling state corn reserves, which will reduce domestic prices and demand for grain in Ukraine

Published 2025년 5월 5일

Tridge summary

The State Grain Agency of Turkey (TMA) is selling up to 200,000 tons of corn to poultry farmers at $285-290/ton in southern Turkey, based on their actual monthly consumption. This initiative follows a new quota allowing duty-free imports of 1 million tons of corn, aimed at reducing domestic prices and decreasing reliance on pricier Ukrainian corn. Meanwhile, global corn prices are falling due to favorable weather in the US and Brazil, with US July futures down 3.5% to $184.6/t. Additionally, StoneX has increased its forecast for Brazil's second corn crop in the 2024/25 marketing year to 104.3 million tons, exceeding the USDA's estimate.

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Original content

The State Grain Agency of Turkey (TMA) has started selling part of its corn stocks to poultry farmers based on actual monthly consumption. According to analysts at Atria Brokers, sales could reach 200,000 tons. In southern Turkey, the TMA set corn prices at $285-290/ton as of May 2. After the introduction of an additional quota for duty-free imports of another 1 million tons of corn last week, the sale of stocks will sharply reduce domestic prices and demand for expensive Ukrainian corn, especially given the decline in world prices caused by favorable weather for sowing the new crop. Rainfall in the US is putting pressure on quotes in Chicago, where July futures fell 3.5% to $184.6/t (-0.4% month-on-month) during the week, while December futures are trading $7/t cheaper on forecasts of favorable weather and increased plantings in the US. The corn market is ...

Source: Graintrade