Wheat Giants Are Starting to Hoard Supply

The wheat market is starting to get shaken up by the coronavirus pandemic.

Panic buying of food might have largely eased at grocery stores, but governments are beginning to get more serious about securing supplies of key staples like grains. From export restrictions to plans to hoard more, there are signs that typical trade routes are being affected as this season nears an end.

Shipment limits across the key Black Sea region are already having knock-on effects, with cargoes being held up and offers dwindling in the latest tender by Egypt, the biggest buyer. Russia also risks having to share the crown as the world’s top exporter. Plus, the challenges are happening as a threat looms from an enduring wildcard at this time of year: the weather.

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