Soybeans were sharply lower on fund and technical selling, closing near the lowest levels in several months. Commodities and the broader market responded to the spread of coronavirus in China and other countries, with new reports of outbreaks in Japan, South Korea, Iran, and Italy. The trade was already uncertain about demand from China because of the expected record production in Brazil and demand from Beijing was already slower than anticipated but the demand concerns linked to coronavirus has just exacerbated those uncertainties.
Continue reading Coronavirus spread pressures grains, oilseeds at Brownfield Ag News.
