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U OF ILLINOIS ECONOMIST SAYS CORN PRICES BEING AFFECTED BY CORONAVIRUS OUTBREAK
Feb. 25, 2020
Agri-Pulse reports:
It's not just stocks that are getting hammered over fears about the coronavirus outbreak. The outbreak also is weighing on corn futures, according to an analysis by University of Illinois economist Todd Hubbs.
To read his report click here.
Old crop July futures had stayed in the range of $3.95 and $4.05 from mid-December until the outbreak of the coronavirus in late January, Hubbs writes. Since then, July futures have been slumping, falling below $3.80 on Monday.
"The macroeconomic and global demand uncertainty associated with the virus looks to continue over the near term and place downward pressure on prices," he writes.
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