CBOT Falls Sharply on Coronavirus Global Spread Worry; Funds Sell 5-7,000 Contracts of wheat/soybeans/corn; Watch US Livestock For Hints of a Bottom
CBOT ag futures are sharply lower at midday with wheat and soybeans pacing the decline on the expanding coronavirus pandemic fears. CBOT wheat has fallen below its 50 & 100 day moving averages (and January lows) which has sparked wholesale fund liquidation. Funds are long a record amount of Chicago wheat and they are selling…