# Coronavirus Sends Crop and Livestock Prices into a Tailspin | Farm Bureau Intel Markets | American Farm Bureau Federation

> Commodity futures fell after COVID-19 shutdowns in the US cut demand from schools, restaurants, bars, and gasoline and ethanol use. Concerns grew that China would not meet the Phase 1 trade deal's purchase commitment of more than $40 billion in US farm products over 2020-2021, and the deal's act-of-God clause was raised as a possible escape.

- Date: 2020-04-07 · published 2020-04-07T12:00:00.000Z
- Category: macro · region US · magnitude high
- Page: https://feedsoft.ai/events/5743-coronavirus-sends-crop-and-livestock-prices-into-a-tailspin-farm-bureau-intel
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Weaker domestic demand for ethanol and feed plus doubts about Chinese purchases pressure corn, soybean and livestock prices lower.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- DDGS: bearish ▼
- HOGS: bearish ▼
- LCATTLE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-03-25 | [Ethanol Plants Pushed Toward Unprofitability \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/54130-ethanol-plants-pushed-toward-unprofitability-farm-bureau-intel-markets-american.md) | +5.3% | -3.8% |
| 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 | 2020-03-01 | [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 | 2020-03-30 | [Ethanol Market Is Disturbing to American Farmers. And Now There's Covid-19.](https://feedsoft.ai/events/54231-ethanol-market-is-disturbing-to-american-farmers-and-now-there-s-covid-19.md) | +3.6% | -5.7% |
| CORN | 2016-06-21 | [Corn prices crash nearly six percent in American trade](https://feedsoft.ai/events/9748-corn-prices-crash-nearly-six-percent-in-american-trade.md) | -5.6% | -6.4% |
| SOY | 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) | -4.1% | -3.3% |
| SOY | 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) | -0.0% | -0.2% |
| SOY | 2020-01-28 | [Soybean market looking for good news \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/55165-soybean-market-looking-for-good-news-an-official-publication-of-michigan-farm.md) | -2.3% | -2.0% |

## Sources

- fb.org: https://www.fb.org/intel/markets/coronavirus-sends-crop-and-livestock-prices-into-a-tailspin

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