# COVID drops corn and cotton; soybeans stable and rice gets stronger | Quality Farm Supply

> A University of Arkansas report says COVID-19 lockdowns cut global demand for corn and cotton, with cotton futures down as much as 25 percent at points. The Renewable Fuel Association estimated biofuel demand would fall 20-25 percent in the short term, reducing ethanol-linked corn demand.

- Date: 2020-07-10 · published 2020-07-10T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/5363-covid-drops-corn-and-cotton-soybeans-stable-and-rice-gets-stronger-quality-farm
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower ethanol and energy-linked demand removes a large share of corn usage, so prices have reset at lower levels. Feed buyers should expect corn to remain under pressure while energy demand stays weak.

## Read by commodity

- WTI: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-02-05 | [Soybeans, Wheat and Corn Pushed Down by Strong Dollar \| February 5, 2024](https://feedsoft.ai/events/7197-soybeans-wheat-and-corn-pushed-down-by-strong-dollar-february-5-2024.md) | -4.6% | -6.1% |
| CORN | 2026-06-01 | [Corn, Wheat Continue to Fall with Crude Oil: Soybeans and Cattle Rally](https://feedsoft.ai/events/19274-corn-wheat-continue-to-fall-with-crude-oil-soybeans-and-cattle-rally.md) | -5.5% | -10.2% |
| CORN | 2020-03-09 | [Corn, soybeans, wheat drop about 2% as global markets recoil \| Financial Post](https://feedsoft.ai/events/11269-corn-soybeans-wheat-drop-about-2-as-global-markets-recoil-financial-post.md) | +0.3% | -1.7% |
| CORN | 2020-03-10 | [Corn, soybean prices fall, equity markets collapse \| TSLN.com](https://feedsoft.ai/events/11275-corn-soybean-prices-fall-equity-markets-collapse-tsln-com.md) | -3.4% | -3.3% |
| CORN | 2017-10-13 | [Soybean prices stronger than anticipated by FAPRI - Brownfield Ag News](https://feedsoft.ai/events/68493-soybean-prices-stronger-than-anticipated-by-fapri-brownfield-ag-news.md) | -0.4% | -5.5% |
| WTI | 2026-06-01 | [Corn, Wheat Continue to Fall with Crude Oil: Soybeans and Cattle Rally](https://feedsoft.ai/events/19274-corn-wheat-continue-to-fall-with-crude-oil-soybeans-and-cattle-rally.md) | +3.5% | -20.5% |
| WTI | 2020-03-09 | [Corn, soybeans, wheat drop about 2% as global markets recoil \| Financial Post](https://feedsoft.ai/events/11269-corn-soybeans-wheat-drop-about-2-as-global-markets-recoil-financial-post.md) | -23.0% | -31.2% |
| WTI | 2020-03-10 | [Corn, soybean prices fall, equity markets collapse \| TSLN.com](https://feedsoft.ai/events/11275-corn-soybean-prices-fall-equity-markets-collapse-tsln-com.md) | -7.1% | -15.8% |

## Sources

- qualityfarmsupply.com: https://www.qualityfarmsupply.com/blogs/news/covid-drops-corn-and-cotton-soybeans-stable-and-rice-gets-stronger

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