Private exporters on Monday reported a large export sale of US corn for a fourth consecutive day, the US Department of Agriculture said Tuesday.
The sale for delivery to unknown destinations for the 2017-18 marketing year (September-August) was for 130,000 mt, the USDA said.
Although corn export shipments have been behind the pace needed to reach the USDA’s goal for corn exports during the current marketing year, exporters have been catching up, sources said.
There has been more interest in US corn as the market fever for soybeans passes and the US dollar remains at competitive low values.
On Wednesday, private exporters reported selling 1.356 million mt of US corn for delivery to Mexico, with 845,820 mt for delivery during the current marketing year and 510,540 mt for delivery during the next marketing year, the USDA said Thursday.
On Thursday, private exporters reported selling 237,400 mt of US corn, of which 135,000 mt were for delivery to South Korea and 102,400 mt were for delivery to Mexico, the USDA said.
On Friday, 130,000 mt of US corn were sold for delivery to unknown destinations, the USDA said.
Exporters are required to report to the USDA any US export sales of 100,000 mt or more of a single agricultural commodity made in one day.
The agency does not disclose the identity of exporters reporting under this requirement.
Corn is the primary feedstock for ethanol production in the US and is the main competitor for distiller’s dried grains.
(Source – https://www.platts.com/latest-news/agriculture/houston/large-export-sale-of-us-corn-made-for-fourth-10014400)