The world is drowning in wheat stocks...

The stockpiling of bread and flour by worried consumers during this coronavirus crisis may have led people to believe that the world was running out of wheat. Export restrictions by major exporting countries, from Russia to Romania, added to the anguish. But not only have wheat trade channels not been disrupted, sales have increased and stocks are growing. Most countries are lifting export restrictions. World production is expected to increase by 0.5 percent from the previous year's record crop. Stocks will rise by 5% to 310 million tonnes, equivalent to five months of global demand.