Chicago Corn Futures prices may be picking up a bit at the hour, but the market will deliver its biggest quarterly loss since 2014. The corona pandemic is leading to a global lockdown and the demand for corn is falling.
Experts estimate that global ethanol production will decrease 25-50%, releasing 30-60 million tons of corn. Suddenly there is a lot of corn on offer again.
The fall in the price of crude oil reduces the demand for corn-based ethanol. In the United States alone, 1/3 of the corn harvest is processed into ethanol. The crude oil price already fell 65% in Q1 / 20.
The corn course (Cv1) at CBoT lost almost 12% in the first three months. That was the biggest loss since September 2012. 
Source
HANSA Terminhandel
