Private exporters reported to USDA export sales of 120,000 MT of grain sorghum to unknown destinations during the 2013-14 marketing year. The marketing year for grain sorghum began Sept. 1.
Traders view this as negative news for the corn market as importers seek alternatives to higher-priced corn.
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, except 20,000 tons 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.