Private exporters reported to USDA China cancelled 220,000 MT of U.S. corn sales for 2013-14, which began Sept. 1. The cancellations are not a surprise to the market, as the country turns elsewhere to fill its near-term corn needs due to the earlier discovery of unapproved GMO material in shipments to the country.
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.
