Private exporters reported to the USDA export sales of 240,000 metric tons of corn for delivery to unknown destinations 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 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 USDA on a weekly basis.
Meghan says: There is speculation the sales were to China as rumors have circulated since Friday the country is in the market for old-crop corn.