Private exporters reported to USDA the following activity:
- Export sales of 110,000 metric tons (MT) of soybeans for delivery to China during the 2012-13 marketing year; and
- Export sales of 110,000 MT of hard red winter wheat for delivery to Saudi Arabia during the 2012-13 marketing year.
The marketing year for wheat began June 1 and soybeans began Sept. 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 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: Fresh demand news is always a plus for soybeans, and wheat needed the boost, too. But grains are expected to be weaker to start the month after yesterday's late-session gains. Key is if buyers see weakness as an opportunity.