A global economic crisis triggered by the corona virus is depressing the prices of the CBoT soybean futures and today the financial instrument is likely to make its biggest weekly loss since 2018.
There is sheer panic in the global marketplaces. This also puts raw material prices under pressure. Meanwhile, governments are trying to control the pandemic.
This week, CBoT soybean futures have already lost almost 5%.
127,000 coronavirus infections have now been detected worldwide.
The Argentine soybean harvest was only estimated at 52 million tons yesterday due to dry weather, which is 2.5 million tons less than previously expected.
Commodity funds were also yesterday sellers of the large agricultural commodity futures. 
Source
HANSA Terminhandel
