October 25, 2010

Exporters sell 165,000 tonnes US soy, 120,000 tonnes corn

Private exporters reported the sale of 165,000 tonnes of US soy to an unknown buyer and 120,000 tonnes of US corn to South Korea, said the Agriculture Department Friday (Oct 29).

Both sales were for delivery this marketing year. The 2010/11 marketing year for corn and soy opened on September 1.

By law, exporters must report promptly the sale of 100,000 tonnes or more of a commodity to the same destination in one day but it sometimes can take a couple of days for the identity of a buyer to become known. Sales of smaller amounts are reported weekly.