The wheat and Rice market Value

 The wheat market has posted the top gains on trepidation a need to conserve supplies for national needs will restrict exports in several key producing countries, Ukraine and Russia particularly.We've seen increasing talk that in the wake of this coronavirus many countries may start to hoard supplies of key agricultural commodities and in turn fuel a food scare similar to what has been seen at the 2007-2008 period when food riots occurred in a number of countries.Remember that rice and wheat are the two main consumed foods however, the USDA's Foreign Agricultural Service latest Grain: World Markets and Trade book prices have rallied for both even though international supplies are at record levels and the share of stocks into ingestion is historically large.Major manufacturers such as China, the European Union, India, Russia, and the USA have generated at rates which are more than adequate to meet rising global demand.Additionally, wheat harvests in important producing nations in the Northern Hemisphere are just a couple of months off.Wheat ending stocks will also be projected in a record 292.8 million with China holding roughly half of stocks.As for rice, while production levels are down year-over-year at 496 million metric tons, a bumper 2019/20 global rice harvest is still anticipated and even with lesser production, overall supplies are up from the prior year because of record carryin stocks together with 2019/20 stocks in a listing 181.6 million metric tons.The attached graphic shows the world rice and wheat stocks-to-use ratios with and without China and while planet wheat China wheat stocks-to-use ratio is the tightest since the 2012/13 season, we are not anywhere near the very low amounts for both global rice and wheat that has been seen from the mid 2000's.