2020 Merchandising Outlook:MARKET EXPERTS GIVE THEIR ADVICE IN A TIME OF VOLATILITY AND UNCERTAINTY

摘要

Klemme: The spread of the novel coronavirus (COVID-19) has upended markets and makes any forecast subject to change on nearly a day-to-day basis.As of mid-March, corn and wheat futures are all either around multi-month lows or contract lows. Soybeans are only slightly above 12-year lows on a monthly chart, with ongoing concerns over exports. Cattle futures have collapsed to a 10-year low anticipating significant cash weakness inthe months to come, as COVID-19 cuts demand, especially from restaurants. U.S. cash ethanol crush margins are negative and at multi-year lows (excluding basis and coproduct value).