The prices of the US corn futures on the CBoT rise 1.5% per hour, leaving a three-year low. The corona crisis is leaving its mark on the energy market.
The crude oil price had dropped again by 20% yesterday, but can now stabilize again by 7%. The ethanol market is very closely related to the crude oil market. In the United States, 39% of the total corn harvest produces ethanol that is blended with gasoline. The energy market was extremely volatile in the Corona crisis.
The rise in the price of crude oil and thus also of the CBoT corn futures follows the announcement by some central banks that they will support the economy massively. The ECB wants to buy up government bonds worth EUR 750 billion. 
Source
HANSA Terminhandel
