Corn down 6
Beans down 19
Corn and beans continue to be pressured by coronavirus uncertainty. After the WHO declared the virus a pandemic, the President enacted a travel ban from Europe for the next 30 days, the NCAA will hold the tournament with no fans present, and the NBA suspended their season. Analysts continue to scratch their heads wondering about the impact coronavirus will have on the economy.
Oil lost another $1 yesterday as Russia and Saudi Arabia are still arguing over market share, and seem to be pushing fracking out of profitable range, crude has dropped 50% since the beginning of the year. Gas futures collapsed and are now trading a dime below ethanol, painting a weak story for ethanol. The markets continue to be pressured by weakness in the energy and equity markets.