Private exporters reported to USDA export sales of 204,000 MT of corn for delivery to Egypt during the 2013-14 marketing year, which began Sept. 1.
Egypt is known as a value buyer and was the top buyer in yesterday's weekly export sales report. This is a strong signal U.S. corn is a value on the global market.
The USDA issues both daily and weekly export sales 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 3:00 p.m. Eastern time on the next business day. Export sales of less than these quantities must be reported to the USDA on a weekly basis.