The price of CBoT soybeans is now recovering slightly from yesterday's strong losses, although fears of the effects of the coronavirus crisis are weakening China's soybean demand and keeping prices at a three-week low.
There is great uncertainty about the corona virus, which makes it difficult to predict the further course of the market. However, traders in the Far East assume that Chinese soybean demand will remain limited due to the corona virus and African swine fever (ASF).
A pandemic with the corona virus would have serious consequences for the world market. Infections in South Korea, Italy and Iran, as well as first cases in Kuwait, Bahrain and Iraq support this thesis.
In addition, the ASF has reduced China's pig population by 40%, which means less feed is required. The USDA estimated high U.S. corn stocks but smaller soybean stocks at a four-year low last week. 
Source
HANSA Terminhandel
