Private exporters reported to USDA export sales of 365,760 metric tons (MT) of corn for delivery to unknown destinations. Of the total, 243,840 MT is for delivery during the 2011-12 marketing year and 121,920 MT is for the 2012-13 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: At current prices, this sales signals the importer is concerned about prices rising even further... as there's plenty of time to get 2012-13 sales on the books.