South Korea Buys U.S. Corn

March 6, 2012 02:01 AM

Private exporters reported to USDA export sales of 126,000 metric tons (MT) of corn for delivery to South Korea during the 2011-12 marketing year.

The marketing year for corn 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: The news is supportive for the market as old-crop supplies are tight, but dollar strength is expected to weigh on commodity markets this morning.

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