Private exporters reported to USDA the following activity:
- Export sales of 123,040 metric tons of corn for delivery to Japan during the 2013-14 marketing year; and
- Export sales of 174,000 metric tons of corn for delivery to South Korea during the 2013-14 marketing year.
On top of a higher-than-expected weekly export sales tally for the weeks ending October 10, 17 and 24, the recent pickup in export sales (and ethanol production) suggests prices are stimulating demand.
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.