US corn prices fall - 18.03.2020
Corn prices fell March 17 in Chicago due to a sharp drop in ethanol prices after falling prices for crude oil and biofuels.
This was reported by the press service of Agritel.
Analysts noted that 30% of American corn is used to produce ethanol.
"Prices for wheat and soybeans have changed slightly, traders are trying to understand the impact of the current pandemic on the demand for agricultural products," the material says.
The US has not yet fully integrated the risks of the epidemic, and volatility may rise again in US markets.
According to the report, agricultural prices on Euronext showed a slight increase due to some recovery in the stock markets. However, Asian stock markets fell again on the morning of March 18, while WTI fell to $ 26 a barrel.
“Against the background of the observed high volatility, special care is required with strict adherence to the principles of risk management,” the analysts added.
Recall that Brent oil prices rose more than 2% on Tuesday after a collapse amid the coronavirus pandemic and the price war between Saudi Arabia and Russia, but concerns about the US recession still remain on the market.