# Daily Market Wire 10 March 2020 - Grain Central

> Brent and WTI crude fell over 24% as markets sold off sharply, with the Dow losing 2,013 points. Soybeans fell 21 cents to 870 cents, corn dropped to 372.75 cents, and Kansas wheat fell 5.25 cents. Canola and rapeseed also declined on the session.

- Date: 2020-03-10 · published 2020-03-10T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11272-daily-market-wire-10-march-2020-grain-central
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sharp losses in crude reduce biofuel demand signals for vegetable oils and grains, while broad risk-off trading drags all grain benchmarks lower. Feed-grain and oilseed costs face near-term downward pressure.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- BRENT: bearish ▼
- WHEAT: neutral
- KWHEAT: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-03-04 | [Brazil central bank to intervene in FX swaps market on Thursday](https://feedsoft.ai/events/54310-brazil-central-bank-to-intervene-in-fx-swaps-market-on-thursday.md) | -2.2% | -0.8% |
| SOY | 2023-09-21 | [Stocks fall, yields rise as central banks rattle markets](https://feedsoft.ai/events/34308-stocks-fall-yields-rise-as-central-banks-rattle-markets.md) | -1.3% | -0.7% |
| SOY | 2021-11-30 | [Afternoon Market Recap for November 30, 2021 - HighLine Grain Growers, Inc](https://feedsoft.ai/events/11598-afternoon-market-recap-for-november-30-2021-highline-grain-growers-inc.md) | +1.6% | +9.5% |
| SOY | 2021-12-01 | [Factors Expected to Drive the 2022 Corn Market](https://feedsoft.ai/events/44073-factors-expected-to-drive-the-2022-corn-market.md) | +2.7% | +11.4% |
| SOY | 2020-03-06 | [U.S. grains: Corn, soy, wheat slide with financial markets - Manitoba Co-operator](https://feedsoft.ai/events/7989-u-s-grains-corn-soy-wheat-slide-with-financial-markets-manitoba-co-operator.md) | -3.8% | -3.4% |
| CORN | 2020-03-24 | [Feed grain report (March 2020) \| AHDB](https://feedsoft.ai/events/6105-feed-grain-report-march-2020-ahdb.md) | +6.1% | -4.7% |
| CORN | 2020-03-20 | [How COVID-19 impacted grain, energy markets this week](https://feedsoft.ai/events/7427-how-covid-19-impacted-grain-energy-markets-this-week.md) | -0.6% | -3.1% |
| CORN | 2020-03-04 | [Brazil central bank to intervene in FX swaps market on Thursday](https://feedsoft.ai/events/54310-brazil-central-bank-to-intervene-in-fx-swaps-market-on-thursday.md) | +1.1% | -0.6% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-10-march-2020/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.