# Corn slumps as ethanol makers feel coronavirus constraints | Financial Post

> U.S. corn futures fell more than 1% on March 30 as ethanol makers cut production or shut plants under coronavirus travel restrictions. Soybeans ended mixed on firm soymeal prices, and wheat rose as Russia appeared poised to restrict exports.

- Date: 2020-03-30 · published 2020-03-30T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/54164-corn-slumps-as-ethanol-makers-feel-coronavirus-constraints-financial-post
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Ethanol uses about a third of the U.S. corn crop, so weaker ethanol demand widens corn basis and pressures futures. Lower crude prices reinforce the drag.

## Read by commodity

- SBM: bullish ▲
- WTI: bearish ▼
- CORN: bearish ▼
- DDGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2020-03-13 | [U.S. ethanol industry 'bleeding' on oil collapse, coronavirus](https://feedsoft.ai/events/54132-u-s-ethanol-industry-bleeding-on-oil-collapse-coronavirus.md) | -4.2% | -1.9% |
| CORN | 2021-09-23 | [Gold prices ease as dollar firms on Fed rate hike comments \| Financial Post](https://feedsoft.ai/events/44965-gold-prices-ease-as-dollar-firms-on-fed-rate-hike-comments-financial-post.md) | +1.3% | +2.0% |
| CORN | 2022-08-15 | [Soy dives on China's economic uncertainty \| Financial Post](https://feedsoft.ai/events/6526-soy-dives-on-china-s-economic-uncertainty-financial-post.md) | -1.1% | -0.5% |
| CORN | 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) | -1.0% | -2.3% |
| SBM | 2020-03-01 | [Coronavirus fears dampening canola futures \| The Western Producer](https://feedsoft.ai/events/12542-coronavirus-fears-dampening-canola-futures-the-western-producer.md) | +0.9% | +8.2% |
| SBM | 2023-04-26 | [Muddle-through is not enough for Argentina as peso faces fresh pressure \| Financial Post](https://feedsoft.ai/events/36676-muddle-through-is-not-enough-for-argentina-as-peso-faces-fresh-pressure.md) | -1.9% | -7.0% |
| SBM | 2020-05-15 | [Feed millers in US to return to soy diets](https://feedsoft.ai/events/53225-feed-millers-in-us-to-return-to-soy-diets.md) | -0.9% | +1.3% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/corn-slumps-as-ethanol-makers-feel-coronavirus-constraints-2

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