# WHO declares COVID-19 a pandemic

> Lockdowns cut fuel demand and ethanol grind, disrupt meatpacking and trigger a broad commodity selloff.

- Date: 2020-03-11 · published 2020-03-11T12:00:00.000Z
- Category: macro · region Global
- Page: https://feedsoft.ai/events/9-who-declares-covid-19-a-pandemic
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-03-20 | 5 | -35.6% | -7.8 | Pandemic declaration and spreading lockdowns in the week of March 16-20 collapsed expected fuel demand, driving the extreme WTI selloff. |
| DXY | 2020-03-12 | 1 | +1.9% | 8.7 | The WHO pandemic declaration on 2020-03-11 intensified global risk-off sentiment and a scramble for dollar liquidity, driving safe-haven and funding demand that lifted the broad dollar sharply on March 12. |
| DXY | 2020-03-18 | 5 | +5.0% | 9.8 | The WHO pandemic declaration intensified global risk-off sentiment and a scramble for dollar liquidity, driving a safe-haven surge in the broad US dollar during the March 2020 funding stress. |
| WTI | 2020-03-20 | 5 | -38.6% | -8.1 | Pandemic declaration and spreading lockdowns in the week of March 16-20 collapsed expected fuel demand, driving the extreme WTI selloff. |
| CORN | 2020-03-18 | 5 | -11.6% | -3.5 | The pandemic declaration and the lockdowns that followed cut gasoline demand and ethanol grind, a major corn demand channel, and set off a broad risk-off commodity selloff during the window. |
| CORN | 2020-03-18 | 5 | -7.4% | -3.3 | The pandemic declaration and the lockdowns that followed cut gasoline demand and ethanol grind, a major corn demand channel, and set off a broad risk-off commodity selloff during the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-05-12 | [COVID 19: Analysis of Food Commodity Price Indices](https://feedsoft.ai/events/7502-covid-19-analysis-of-food-commodity-price-indices.md) | +0.6% | +4.2% |
| CORN | 2020-04-21 | [COVID-19 infects nearly all commodity prices \| Capital Press](https://feedsoft.ai/events/6503-covid-19-infects-nearly-all-commodity-prices-capital-press.md) | -1.6% | +0.5% |
| CORN | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | -0.7% | -0.3% |
| CORN | 2020-01-01 | [Cattle market shaken by COVID-19](https://feedsoft.ai/events/55236-cattle-market-shaken-by-covid-19.md) | -0.6% | -0.2% |
| CORN | 2021-12-15 | [Will the Dual Circulation Strategy Enable China to Compete in a Post-Pandemic World? \| ChinaPower Project](https://feedsoft.ai/events/14970-will-the-dual-circulation-strategy-enable-china-to-compete-in-a-post-pandemic.md) | -3.5% | +1.2% |
| WTI | 2020-02-25 | [COVID-19 Pressures Mexican Peso](https://feedsoft.ai/events/54791-covid-19-pressures-mexican-peso.md) | -9.0% | -54.6% |
| WTI | 2020-03-30 | [Crude oil futures drop as pandemic darkens demand outlook](https://feedsoft.ai/events/5321-crude-oil-futures-drop-as-pandemic-darkens-demand-outlook.md) | +64.1% | -28.3% |
| WTI | 2021-04-21 | [Oil prices drop as India’s COVID-19 surge dents demand outlook \| Reuters](https://feedsoft.ai/events/47759-oil-prices-drop-as-india-s-covid-19-surge-dents-demand-outlook-reuters.md) | +0.7% | +4.7% |

## Sources

- Wikipedia: https://en.wikipedia.org/wiki/COVID-19_pandemic

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