Opening Market Report- 2/1/21- More Corn Export Sales, But None to China


WASHINGTON (Dow Jones) — Private exporters reported to the U.S. Department of Agriculture the following activity:

— Export sales of 125,730 metric tons of corn for delivery to Mexico during the 2020/2021 marketing year;

— Export sales of 110,000 metric tons of corn for delivery to Japan during the 2020/2021 marketing year; and

— Export sales of 133,000 metric tons of soybean meal for delivery to the Philippines during the 2020/2021 marketing year.

The marketing year for corn began Sept. 1; soybean meal began Oct. 1.

USDA issues both daily and weekly export sales to the public. U.S. 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. Sales totaling 200,000 tons or more in any reporting period, except soybean oil, made in one day to one destination, must be reported by 3:00 p.m. eastern time on the next business day. Export sales of less than these quantities must be reported to USDA on a weekly basis.

Grain trade is mixed to start out day. Jesse Allen has the update: