Global Commodity Analytics President Mike Zuzolo says Tuesday’s WASDE report largely confirmed what traders had already priced in. “The market got it right; they had been buying corn and selling beans,” Zuzolo said, noting USDA’s decision to raise corn exports but leave soybean exports unchanged reinforced that trend. South American weather is also shaping trade sentiment. Zuzolo said conditions in Argentina remain hot and dry, which he associates more with corn and soymeal concerns, while improving weather in southern Brazil ties more closely to soybeans.
