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CBOT corn and soybeans were under pressure in early February as traders watched the coronavirus outbreak's effect on demand. China released three million tonnes of corn from state reserves and ordered 10 soybean cargoes from South America, while South American corn and soybean crops were growing larger.
China's reserve corn release and purchases of South American soybeans reduce demand for U.S. grains, and larger South American crops add further bearish pressure on corn and soybean futures.
grainews.caGFM Network NewsFeb 5, 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.
