Turkey is expected to become more active in the corn market in August, following a temporary slowdown triggered by a government stock release. Demand is projected to pick up once domestic supply buffers are exhausted, with Ukrainian and russian origins likely to compete for new deals.

As of early July, Turkish buyers continued to show interest in Ukrainian corn, with bids for July shipment reported at 246–247 USD/MT CIF Marmara. However, activity has cooled in recent days after Turkey’s state grain board (TMO) released 300 KMT of corn from its reserves on 26 June.

“The release of corn from TMO stocks has temporarily slowed Turkish demand for import, including Ukrainian and russian origins,” said Ayberk Ozturk, broker at Atria Brokers. “But the effect won’t last long – Turkey consumes over 600 KMT of corn monthly, so this volume will likely be absorbed by the end of July.”

According to Ozturk, Turkish buyers are expected to return to imports in August, focusing on August–September loadings. While Ukrainian corn has been the primary source so far this season, russian corn – typically priced more competitively – has become increasingly attractive. Its role is expected to grow if Turkey resumes purchases without a new quota in place.

Ozturk noted that with Turkey facing a structural corn supply gap of over 2 MMT annually, the government is widely expected to introduce another import quota – possibly at zero or low duty – in the third quarter of 2025 to keep domestic prices in check ahead of the local harvest.