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Diesel futures fell to their lowest level in over a year on coronavirus fears, with Midwest cash diesel also weak despite refinery shutdowns. Crude oil futures started the week near $52 a barrel, roughly $5.50 below estimated fair value, amid record U.S. production.
Lower diesel and crude prices reduce on-farm fuel costs and feed-transport expenses for the coming spring, while fertilizer buying looks attractive for growers.
farmprogress.comBryce KnorrJan 27, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Crude started the week near $52 amid record US production and virus fears, with diesel at a one-year low, reflecting both supply and demand pressure.
