The prices of the CBoT wheat futures rise to a four-week high this morning as China buys again and global wheat demand has increased. It is the fifth consecutive trading day on which the prices of CBoT agricultural commodities are rising.
Consumers are hoarding food that can be stored, including flour and pasta, which is now becoming apparent in markets around the world. The global wheat supply is now barely sufficient for the increased demand, according to the Australian Commonwealth Bank.
Panicked food purchases because of the corona pandemic suggest a shortage, although there is no reason for it. After all, according to the FAO economists, all major grain and oilseed exporting countries report high inventories.
Following the conclusion of the first part of a trade agreement between China and the United States in January, China has now started to buy large quantities of US agricultural goods. On Friday, the USDA announced the sale of 756,000 U.S. corn for delivery in the current marketing season and 340,000 tons of hard-red winter wheat for delivery in the 2020/21 season. There were also deals with "unknown buyers" (usually Chinese), the 110.Bought 1,000 tons of US soybeans.
As the virus also spreads to South America, it is feared that shipments of soybean meal will stall there. 
Source
HANSA Terminhandel
