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Large daily export sales of US corn continue: USDA

Houston (Platts)--13 Mar 2018 1250 pm EDT/1650 GMT


Large exports sales of US corn continued Monday for the fourth consecutive trading day, as reported by private exporters, including a "large sale" of 210,000 mt in the current marketing year (September 2017-August 2018) for delivery to South Korea, the US Department of Agriculture said Tuesday.

Private exporters on Friday reported selling 362,552 mt of US corn, 254,800 for delivery to unknown destinations and 107,752 for delivery to Japan, on Thursday reported selling 260,000 mt for delivery to unknown destinations and on Wednesday they reported selling 110,000 mt for delivery to Japan, USDA data showed.

US corn-exports business continued to be story in the market, with "product flying off the shelves," a source said.

"Corn is trading up on tight worlds stocks, and healthy demand," a market participant added.

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From Wednesday to Monday, CBOT March corn futures rose 5 cents, from $3.7925/bushel to $3.8425/bu.

Exporters are required to report to the USDA any export sales of 100,000 mt or more of a single US 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 dried distillers grains.

--Sergio Alvarado, sergio.alvarado@spglobal.com

--Edited by Derek Sands, derek.sands@spglobal.com



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