# U.S. grains: Corn, soy, wheat slide with financial markets - Manitoba Co-operator

> U.S. grain and soybean futures fell on March 6 as coronavirus spread triggered broad selling in commodities and equities. Oil prices dropped over 8% to their lowest since mid-2017, pressuring corn through its ethanol link; May corn closed at $3.76, soybeans at $8.91-1/4 and wheat at $5.15-3/4 per bushel.

- Date: 2020-03-06 · published 2020-03-06T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/7989-u-s-grains-corn-soy-wheat-slide-with-financial-markets-manitoba-co-operator
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude oil weakens ethanol economics and pulls corn lower, while risk-off trade and demand fears weigh on feed grains and oilseeds.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- BRENT: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-03-06 | 1 | -10.3% | -5.8 | Reports oil fell over 8% on March 6 to its lowest since 2017 amid broad coronavirus-driven selling, confirming the move and its sentiment backdrop. |
| SOY | 2020-03-08 | 1 | -2.2% | -3.2 | March 6 coronavirus-driven broad selling and an oil drop to multi-year lows set up the downside momentum, with soybeans closing lower into the weekend. |

## 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 | 2022-06-15 | [Corn, wheat, soya fall amid decline in financial markets - Markets - Business Recorder](https://feedsoft.ai/events/12701-corn-wheat-soya-fall-amid-decline-in-financial-markets-markets-business-recorder.md) | -1.6% | +0.4% |
| CORN | 2020-09-21 | [U.S. grains: Wheat, soy, corn fall sharply on fund selling - Grainews](https://feedsoft.ai/events/11765-u-s-grains-wheat-soy-corn-fall-sharply-on-fund-selling-grainews.md) | -2.4% | +3.4% |
| CORN | 2020-03-12 | [Fear is the price killer in commodity markets - Manitoba Co-operator](https://feedsoft.ai/events/8373-fear-is-the-price-killer-in-commodity-markets-manitoba-co-operator.md) | -7.4% | -3.7% |
| CORN | 2020-03-18 | [U.S. corn skids 2.2% to lowest level since September 2016; wheat, soy rise \| Financial Post](https://feedsoft.ai/events/8374-u-s-corn-skids-2-2-to-lowest-level-since-september-2016-wheat-soy-rise.md) | -0.6% | -3.4% |
| SOY | 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) | -4.1% | -3.3% |
| SOY | 2022-06-15 | [Corn, wheat, soya fall amid decline in financial markets - Markets - Business Recorder](https://feedsoft.ai/events/12701-corn-wheat-soya-fall-amid-decline-in-financial-markets-markets-business-recorder.md) | -2.7% | -5.2% |
| SOY | 2020-09-21 | [U.S. grains: Wheat, soy, corn fall sharply on fund selling - Grainews](https://feedsoft.ai/events/11765-u-s-grains-wheat-soy-corn-fall-sharply-on-fund-selling-grainews.md) | -3.9% | +0.6% |

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/daily/u-s-grains-corn-soy-wheat-slide-with-financial-markets/

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