Private exporters reported to USDA export sales of 100,000 metric tons (MT) of corn for delivery to unknown destinations for delivery during the 2011-12 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: China? Probably. The news should provide some support for the market as it reminds traders of the tight stocks situation and China's growing appetite for feed grains.