Coronavirus Fears Send Commodity Markets Down
Soybean futures contract sank to its lowest since December 12
U.S. corn, soybeans and wheat futures fell sharply on Monday, with investors shedding risky assets amid fears the coronavirus outbreak in China could dent the global economy, traders said.
Reuters reports the most-active Chicago Board of Trade soybean futures contract sank to its lowest since Dec. 12, with the market still waiting for signs of a pick-up in Chinese demand following the Phase 1 trade deal between Beijing and Washington.
Corn futures were at their lowest since Jan. 17 and wheat touched a 10-day low.