Private exporters reported to USDA export sales of 105,000 metric tons (MT) of soybeans for delivery to Mexico. Of the total, 65,000 tons is for delivery during the 2011-12 marketing year and 40,000 tons is for delivery during the 2012-13 marketing year. The marketing year for 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 metric tons 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: On top of this morning's strong weekly sales tally, additional demand news should spark some buying interest in beans this morning.