Coronavirus Impacting Agribusiness, Trade

The CME Group physical trading floor will close due to the coronavirus. Much of today’s trade is done electronically. Trade on the floor will end at the close of Friday’s trading session, and all trading will take place on the GME Globex. CME Group said the action is “a precaution to reduce large gatherings that can contribute to the spread of coronavirus in line with the advice of medical professionals.”

No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building.

The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available. European Union Trade Commissioner Phil Hogan canceled plans to travel to the U.S. and Canada next week due to the coronavirus.

An EU spokesperson told Politico, “The trip has been canceled and will be rescheduled as soon as possible,” adding, “If necessary, contacts will continue through other means.”

Hogan was scheduled to visit the United States while the U.S. and EU are working on a mini trade deal, one that U.S. agriculture interests hope will successfully include agriculture provisions.

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