Private exporters reported to USDA the following activity:
- Export sales of 204,000 metric tons (MT) of soybeans for delivery to unknown destinations during the 2012-13 marketing year; and
- Export sales of 130,000 MT of corn for delivery to unknown destinations during the 2012-13 marketing year; and
- Export sales of 30,000 MT of soybean oil for delivery to China during the 2011-12 marketing year.
The marketing year for corn and soybeans began Sept. 1; soybean oil began Oct. 1. USDA issues both daily and weekly export sales reports to the public. Exporters are required to report to USDA any export sales activity of 100,000 MT or more of one commodity, made in one day or quantities totaling 200,000 MT or more in any reporting period, except 20,000 MT for soybean oil, made in one day to one destination, by 3 p.m. Eastern time on the next business day following the sale. Export sales of less than these quantities must be reported to USDA on a weekly basis.
Juli says: A constant dose of fresh demand news for the soybean market is positive news, as a mature bull market needs it in order for bulls to stay interested. Meanwhile, corn sales in the upcoming marketing year are off to a very strong start.