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Soybeans Recover, Gains Capped by Virus Worries

Wheat struggles as spreading virus raises economic worries

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Chicago soybean futures rose for the first time in five sessions on Tuesday with bargain buying supporting prices, although gains were limited by concerns over the economic damage from the fast-spreading coronavirus.

According to Reuters, wheat was little changed after Monday’s slide to its lowest since October, while corn recovered from a six-month low to trade higher.

A bit of bargain buying and issues around food security are supporting prices of grains and oilseeds, said Phin Ziebell, agribusiness economist at National Australia Bank.

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