Private exporters reported to USDA export sales of 120,000 MT of corn for delivery to China during the 2013-14 marketing year, which will begin Sept. 1.
The sale reminds the market that new-crop corn futures are at value levels to rebuild demand. Earlier this week, USDA announced a daily sale for a like amount of new-crop corn to Mexico.
U.S. exporters are required to report to the USDA any export sales activity of 100,000 metric tons or more of one commodity made in one day or quantities totaling 200,000 tons or more in any reporting period to one destination, by 3 p.m. EDT (1900 GMT) the next business day, according to the USDA's Foreign Agricultural Service. Any export sales under these quantities must be reported on a weekly basis.