Private exporters reported to USDA export sales of 120,000 MT of hard red winter wheat to Nigeria during the 2013-14 marketing year, which began June 1.
Interestingly, Gulf SRW wheat basis for immediate delivery firmed 19 cents this morning to stand 40 cents above December futures to reflect improvement in demand.
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 MT or more of one commodity, except 20,000 MT for soybean oil, 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.