Private exporters reported to the USDA the following activity:
- Export sales of 713,000 metric tons of soybeans to China during the 2013/2014 marketing year; and
- Export sales of 252,153 metric tons of corn to Mexico during the 2013/2014 marketing year; and
- Export sales of 140,000 metric tons of soybeans to unknown destinations during the 2013/2014 marking year.
The marketing year for corn 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 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 3:00 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.
Meghan says: This signals active value buying is underway and could help soybeans to put in a low.