Corn Tumbles Most in a Year, Pacing Slump in Crop Commodities
- Agriculture markets mirror decline in equities on virus woes
- ‘Everything on the screen is red;’ soybeans, wheat, cotton sag
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Corn futures tumbled the most in a year, pacing a slump in agriculture markets, as escalating coronavirus concerns drove commodities and equities lower.
The S&P 500 Index fell 3.5%, the biggest drop since June, amid a surge in Covid-19 hospitalizations, especially in the Midwest. German Chancellor Angela Merkel reached a deal for a one-month partial lockdown to curb the spread of the virus, and France imposed new nationwide measures.