# Oil price crash, COVID-19 weaken grains and oilseed markets

> COVID-19 and a historic oil price collapse have weighed on international grain and oilseed markets, with maize hit hardest. WTI closed at -$37 per barrel on April 20 and Brent fell below $16 before recovering to about $21.80.

- Date: 2020-04-26 · published 2020-04-26T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude cuts ethanol and biodiesel demand for corn and soyoil, and some US ethanol plants have shut, so feed-grain and oilseed prices face downward pressure.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2020-01-01 | [Cattle market shaken by COVID-19](https://feedsoft.ai/events/55236-cattle-market-shaken-by-covid-19.md) | -0.6% | -0.2% |
| CORN | 2026-03-20 | [Grains, oilseeds lower as dollar rises \| MarketScreener](https://feedsoft.ai/events/11694-grains-oilseeds-lower-as-dollar-rises-marketscreener.md) | -0.1% | -3.2% |
| CORN | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | +3.7% | -4.4% |
| CORN | 2022-04-28 | [Poor Chinese hog margins to weigh on feed grain price outlook \| The Land \| NSW](https://feedsoft.ai/events/41839-poor-chinese-hog-margins-to-weigh-on-feed-grain-price-outlook-the-land-nsw.md) | -7.5% | -2.6% |
| SBO | 2021-12-27 | [Grain market review: Oilseeds \| World Grain](https://feedsoft.ai/events/43723-grain-market-review-oilseeds-world-grain.md) | +0.6% | +5.6% |
| SBO | 2021-08-19 | [Falling oil prices increase pressure on oilseed markets](https://feedsoft.ai/events/11363-falling-oil-prices-increase-pressure-on-oilseed-markets.md) | -4.3% | -8.1% |
| SBO | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | -1.0% | -5.5% |

## Sources

- farmersweekly.co.za: https://www.farmersweekly.co.za/agri-news/world/oil-price-crash-covid-19-weaken-grains-and-oilseed-markets/

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