Private exporters reported to USDA export sales of 127,000 MT of corn to unknown destinations for 2013-14. The news comes in addition to this morning's very impressive weekly sales data and signals U.S. corn is certainly a value buy on the global market.
The marketing year for corn began Sept. 1. The USDA issues both daily and weekly export sales reports to the public. 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. Eastern time on the next business day following the sale. Export sales of less than these quantities must be reported to the USDA on a weekly basis.