# Markets starting to reveal new demand paradigms — this week in the grain markets - RealAgriculture

> The USDA April WASDE was largely discounted by the market due to COVID-19 demand swings. OPEC and Russia agreed to cut oil output by about 10 million barrels per day, and oil fell nearly 8% on the day. POET idled four ethanol plants, removing roughly 110 million bushels of annual corn demand.

- Date: 2020-04-10 · published 2020-04-10T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/53693-markets-starting-to-reveal-new-demand-paradigms-this-week-in-the-grain-markets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Lower oil demand and ethanol plant idling reduce corn demand, which is bearish for corn and bearish for crude; the oil cut is an offset for crude prices.

## Read by commodity

- WTI: bearish ▼
- CORN: bearish ▼
- DDGS: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-07-15 | [Volatility in the markets again this week from WASDE report and inflationary pressures - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/4309-volatility-in-the-markets-again-this-week-from-wasde-report-and-inflationary.md) | -10.7% | -8.4% |
| CORN | 2020-03-09 | [The Sprout: Agriculture futures slip as stock market falls in reaction to oil price drop - iPolitics](https://feedsoft.ai/events/11276-the-sprout-agriculture-futures-slip-as-stock-market-falls-in-reaction-to-oil.md) | +0.3% | -1.7% |
| 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 | 2020-03-01 | [Grains, like economy, trend lower on coronavirus concerns - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12541-grains-like-economy-trend-lower-on-coronavirus-concerns-agweek-1-source-for.md) | +1.7% | -3.5% |
| CORN | 2016-11-09 | [Corn, wheat drop more than 1 percent as Trump wins White House - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73885-corn-wheat-drop-more-than-1-percent-as-trump-wins-white-house-agweek-1-source.md) | -6.6% | -4.5% |
| WTI | 2020-03-09 | [The Sprout: Agriculture futures slip as stock market falls in reaction to oil price drop - iPolitics](https://feedsoft.ai/events/11276-the-sprout-agriculture-futures-slip-as-stock-market-falls-in-reaction-to-oil.md) | -23.0% | -31.2% |
| WTI | 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) | -26.8% | -27.2% |
| WTI | 2020-02-28 | [Palm oil heads for worst week in 11 years on demand destruction \| The Star](https://feedsoft.ai/events/5815-palm-oil-heads-for-worst-week-in-11-years-on-demand-destruction-the-star.md) | -2.6% | -61.0% |

## Sources

- realagriculture.com: https://www.realagriculture.com/2020/04/markets-starting-to-reveal-new-demand-paradigms-this-week-in-the-grain-markets/

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