Oilseeds - Oils

Soybeans: Black Friday and Monday on world stock markets

March 9, 2020 3:07 PM, Der AUDITOR
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CHICAGO. The US soybean market gave way to pressure from pandemic fears of the corona virus, heavy price losses on the stock and commodity exchanges, the failure of the OPEC Plus Conference in Vienna and a lack of soybean exports to China. The US leading index Dow Jones recorded the biggest price slide on the New York Stock Exchange in ten years.

In the USA, soybeans suffered a brutal collapse. At noon, US soybeans were trading at USD 8.61 per bushel, which is 27 cents or 3% lower than last Friday. Soybean meal also fell by 0.3% and soybean oil by 7.2%. According to US brokers, rising pandemic fears of the corona virus and the collapse of crude oil prices drove the soybean market down. The virus has infected more than 106,400 people in at least 95 countries and killed over 3,500 people, a US broker of Allendale Inc. announced. The price of crude oil had initially fallen by more than 30% on Monday morning, the biggest drop since the

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