USDA Announces Wheat Sale

October 19, 2012 03:05 AM

Private exporters reported to USDA export sales of 230,000 MT of wheat for delivery to unknown destinations during the 2012-13 marketing year. Of the total, 117,600 MT is hard red winter, 49,400 MT is hard red spring, 58,200 MT is soft white wheat and 4,800 MT durum wheat. The marketing year for wheat began on June 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, 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: Futures have factored in tightening exportable supplies this week. Also this morning, there is news that Ukraine will ban exports starting Nov. 15 -- further raising expectations demand for U.S. wheat will improve sooner rather than later.

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