Corn courses at the CBoT have been able to tighten easily this morning for the first time in four trading days as livestock are expected to be higher in the United States. However, cash market prices have remained close to their low for a decade due to weak demand from ethanol manufacturers.
US President Donald Trump yesterday ordered his country's slaughterhouses to remain open, even if the workforce is infected with the coronavirus on a massive scale and unions are calling on their members to stay away from work.
Corn demand has collapsed after U.S. citizens are asked to stay home to prevent the spread of the coronavirus. As a result, gasoline consumption has dropped massively and ethanol, which is made from corn, is hardly in demand.
The stay-at-home arrangement also caused meat consumption in the United States to collapse, damaging demand for corn, soybean, and wheat feed.
By last Sunday, US farmers had already ordered 27% of their planned corn areas. The five-year average on this date is 20%.
The crude oil price can recover from its lows this morning as inventories are declining slightly and energy demand is expected to increase over there and in Europe as soon as the economic lockdown ends. 
Source
Hansa Terminhandel GmbH
