Wheat, Corn Lose Ground as Pandemic Fears Hit Markets
Soybeans climbed a tick higher though lean Chinese demand limited gains
Chicago wheat and corn lost ground on Wednesday, with both markets falling for a fifth session in six, on worries about the spread of coronavirus to shores beyond China and its impact on global economic growth, reports Reuters.
Soybeans climbed a tick higher, though concerns over lean demand in top buyer China following the virus outbreak limited gains.
According to Reuters, agricultural markets were under pressure as fears mounted that the coronavirus outbreak in China will grow into a pandemic after sharp rises in infections in South Korea, Italy and Iran and other cases found in the Middle East.