Private exporters reported to USDA the following activity:
- Export sales of 150,000 metric tons of corn for delivery to Spain during the 2013-14 marketing year; and
- Export sales of 126,000 metric tons of soybeans for delivery to China during the 2014-15 marketing year; and
- Export sales of 120,000 metric tons of corn for delivery to Egypt during the 2013-14 marketing year; and
- Export sales of 100,000 metric tons of corn for delivery to Japan during the 2013-14 marketing year.
This flurry of export activity should help to limit followthrough pressure from overnight losses, as it comes on the heels on a positive weekly export sales report for both corn and soybeans. The corn sales activity reminds the market prices are attracting fresh demand.
The marketing year for corn and soybeans 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.