Chicago wheat, soybean and corn futures fell by about 1.5% on Monday as concern over the economic fallout from the coronavirus and a crash in crude oil prices pushed equities and other commodities sharply lower, reports the Financial Post.
Global share markets tumbled as investors fled to bonds to hedge the economic shock of the coronavirus while oil plunged by as much as 33% after Saudi Arabia launched a price war with Russia.
“Soybeans, corn and wheat are all falling today following weakness in outside markets,” sMatt Ammermann, commodity risk manager at INTL FCStone told the Post. “Crude oil prices are down sharply and the coronavirus fears are depressing equity markets."
