# Weekly Market Wrap-Up - March 20, 2020 - The Andersons Trade Group

> The Dow and S&P 500 fell sharply the week of 16 March 2020 as COVID-19 fears deepened, and crude oil fell further amid a price war. Soybean meal and bean oil spiked late in the week after several Argentine export locations shut down over COVID-19 concerns.

- Date: 2020-03-20 · published 2020-03-20T12:00:00.000Z
- Category: logistics · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/6109-weekly-market-wrap-up-march-20-2020-the-andersons-trade-group
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Argentine port shutdowns cut soymeal and soyoil export supply, supporting meal prices for feed buyers, while lower crude weighs on ethanol margins and corn.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- WTI: bearish ▼
- CORN: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2020-03-22 | 5 | +11.8% | 5.4 | Argentine export location shutdowns over COVID-19 threatened the world's top soymeal export supply, spiking meal late in the week of the move. |
| SOY | 2020-03-23 | 5 | +7.4% | 3.5 | Soybean meal and oil spiked after Argentine export locations shut down over COVID-19, tightening South American export supply. |
| SBM | 2020-03-24 | 1 | -3.1% | -3.3 | The prior week's spike on Argentine export shutdowns built a large risk premium that left meal vulnerable to a sharp pullback once those fears eased. |
| SBM | 2020-03-18 | 1 | +3.6% | 4.4 | Soymeal spiked after Argentine export locations shut down over COVID-19, which reflects the supply shock behind the rally, although the wrap covers the full week. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-03-24 | [DDGS Weekly Market Report – March 24, 2022 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/42380-ddgs-weekly-market-report-march-24-2022-u-s-grains-and-bioproducts-council.md) | -2.7% | -3.8% |
| SBM | 2022-07-28 | [DDGS Weekly Market Report – July 28, 2022 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/11491-ddgs-weekly-market-report-july-28-2022-u-s-grains-and-bioproducts-council.md) | -0.9% | -3.5% |
| SBM | 2020-03-19 | [Grains, Livestock, Energy Get Up Off Mats in Thursday Trade](https://feedsoft.ai/events/6170-grains-livestock-energy-get-up-off-mats-in-thursday-trade.md) | +5.8% | -4.0% |
| SBM | 2022-12-02 | [This Week In Dairy 12-02-2022 - Total Farm Marketing by Stewart-Peterson](https://feedsoft.ai/events/8751-this-week-in-dairy-12-02-2022-total-farm-marketing-by-stewart-peterson.md) | +10.1% | +12.6% |
| SBM | 2020-08-27 | [Market Perspectives – August 27, 2020 - Page 7 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/51503-market-perspectives-august-27-2020-page-7-of-10-u-s-grains-and-bioproducts.md) | +3.7% | +14.5% |
| SBO | 2024-08-11 | [Argentina oilseed workers' strike nears one-week mark](https://feedsoft.ai/events/13906-argentina-oilseed-workers-strike-nears-one-week-mark.md) | -5.1% | -2.1% |
| SBO | 2026-02-19 | [The Argentine maritime workers’ strike for reform of labor halts grain shipments](https://feedsoft.ai/events/20631-the-argentine-maritime-workers-strike-for-reform-of-labor-halts-grain-shipments.md) | +2.7% | +1.3% |
| SBO | 2024-01-04 | [Logistics and global dynamics in focus for EU vegetable oil market](https://feedsoft.ai/events/32194-logistics-and-global-dynamics-in-focus-for-eu-vegetable-oil-market.md) | -1.3% | -6.7% |

## Sources

- andersonsgrain.com: https://www.andersonsgrain.com/market-commentary/market-news/weekly-wrap-up2/2020/mar-20/

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