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Commentary attributes recent grain and energy price declines to coronavirus fears that cut expected travel and demand in China during the Lunar New Year. It also notes the U.S. equity sell-off and stalled buying under the China trade deal.
Virus-driven demand fears pressure corn, soybean and energy prices, with trade-deal purchases still uncertain.
farmanddairy.comMarlin ClarkJan 29, 2020After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 50 past bearish disease events, Soybeans moved a median +0.5% over 5 sessions (58% higher; middle half -1.7% to +2.4%), and +0.0% over 20.
After 32 past bearish disease events, Crude Oil (WTI) moved a median -5.2% over 5 sessions (13% higher; middle half -15.0% to -2.4%), and -5.7% over 20.
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.
