Thursday, February 27, 2020 2:29PM CST
Global commodity supply chains have fallen victim to the COVID-19 virus, ongoing trade uncertainty and -- at a few crucial chokepoints in Canada -- outright sabotage.
Thursday, February 27, 2020 2:25PM CST
Analysts speaking at the International Sweetener Colloquium raised concerns about the economic problems created by the global spread of the coronavirus. The stock and commodity market response to the coronavirus, especially in recent days, now has prompted President Donald Trump to hold a news conference as he criticizes the media for causing panic.
May corn is down 1 3/4 cents per bushel, May soybeans are down 12 cents, and May KC wheat is down 3 1/2 cents.
Continued pressure is likely Friday following the technical weakness developing in commodity markets as well as livestock trade. Moderate attempts of price support are expected through the day as traders try to cover short positions at the end of the week and month.