Global Commodity Analytics and Consulting President Mike Zuzolo says grain traders are still nervous about tight supplies following Thursday’s USDA weekly Export Sales report. “Weekly export sales weren’t as nearly as disappointing for the soybeans and the soybean meal. I think that brought back around the idea we’re still nervous enough about supplies in South America,” says Zuzolo. “There’s an idea northern Brazil is still too wet. Mato Grosso makes up about 43 percent of the crop, especially second crop corn. The area has rain coming in the next week, continuing to delay soybean harvest. China may come in to seek U.S. soybeans this month.”
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