USDA Announces Corn Sale to Unknown Destinations

January 7, 2013 02:04 AM

Private exporters reported to USDA sales of 102,200 MT of corn for delivery to unknown destinations during 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: This could be a sign that U.S. corn values have slipped far enough to make it more competitive on the global market. But before traders rebuild long positions, they will want to see further proof of demand improvement.

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