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How the coronavirus pandemic has affected agricultural prices, a month on

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It is a matter for argument when to take as C-day - that is, when investors began to factor the Covid-19 coronavirus outbreak into account in pricing.

 

But Agrimoney is taking it as January 20, when Chinese authorities announced that the disease was captable of human-to-human transmission. Agrimoney noted a rapid increase in mention of coronavirus in emails and notes from investors from late that day onwards.

 

So the site is taking January 19 as the last day of Covid-free pricing.

 

The table below lists price performance over the month since then.

 

 

Price changes below given on a spot contract basis, except palm oil on a third-in contract basis. Some non-ags are included for comparison purposes.

 

Contract Change over the past month
1 Raw sugar (New York) +7.8%
2 White sugar (London) +5.8%
3 Cocoa (New York) +4.6%
4 Gold +3.5%
5 USD +2.1%
6 S&P 500 +1.7%
7 Soft milling wheat (Paris) +0.9%
8 Ethanol +0.7%
9 Lean hogs (Chicago) -0.1%

10

Cocoa (London) -0.7%
11 Soft red winter wheat (Chicago) -1.1%
12 Rapeseed -1.5%
13 Feed wheat (London) -2.0%
14 Corn (Chicago) -2.1%
15 Robusta coffee (London) -2.2%
16 Bcom ag -2.4%
17 Soymeal (Chicago) -2.5%
18 Hard red winter wheat (Kansas City) -2.8%
19 Feeder cattle (Chicago) -3.1%
20 Soybeans (Chicago) -3.5%
21 Cotton (New York) -3.9%
22 Bcom -4.1%
23 Hard red spring wheat (Minneapolis) -4.2%
24 Canola -4.5%
25 Arabica coffee (New York) -4.8%
26 NZX WMP -6.2%
27 Brent crude -8.8%
28 Soyoil (Chicago) -9.3%
29 Palm oil (Kuala Lumpur) -10.2%
Month end price for spot contract, except benchmark contract for palm oil. Dollar reported against a trade-weighted index. Spot contract values as reported by Reuters

 

 

 

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