Turkey Opens Wheat Reserves Early, Reduces Import Demand

Turkey's state grain agency TMO has unexpectedly opened its wheat reserves for sales on September 1, 2026. This move is earlier than market participants had anticipated and could reduce Turkey's import demand in the near term.

Traders had expected TMO to resume sales from its reserves in mid-September or October 1, but the early release of state-held grain increases the supply available to domestic processors. As a result, Turkish demand for imported wheat has been concentrated mainly on prompt shipments for delivery by September 15.

The maximum import parity is estimated at around $295/t CIF Marmara, considering the current cost of import licenses and logistics. Offers above this level could become less competitive compared with wheat released from government reserves. TMO's early move may reduce Turkey's need for imported wheat and put additional pressure on prices offered by foreign suppliers.