# COVID-19 lifts prices despite big wheat stocks: USDA - Grain Central

> The latest USDA world markets report shows global wheat production and ending stocks at record levels, with projected 2019/20 ending stocks at 292.8 million tonnes. Despite this, wheat and rice prices have rallied as some countries restrict exports and others increase purchases amid COVID-19 food security concerns.

- Date: 2020-04-14 · published 2020-04-14T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/53684-covid-19-lifts-prices-despite-big-wheat-stocks-usda-grain-central
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Export restrictions and state buying can tighten tradable supplies and lift prices even when aggregate stocks are large, supporting feed grain costs for buyers.

## Read by commodity

- RICE: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| RICE | 2020-04-24 | 5 | +14.1% | 5.3 | USDA report notes rice prices rallied as exporters restrict shipments and importers boost purchases, a direct sentiment and trade-flow driver of the rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2025-03-31 | [USDA reports mixed grain stocks, with wheat up and corn down](https://feedsoft.ai/events/25651-usda-reports-mixed-grain-stocks-with-wheat-up-and-corn-down.md) | -3.3% | -7.4% |
| RICE | 2026-07-29 | [USDA projects long-grain rice stocks down 52% this year](https://feedsoft.ai/events/18427-usda-projects-long-grain-rice-stocks-down-52-this-year.md) | +2.2% | +5.3% |
| RICE | 2026-05-08 | [Global food prices up for third straight month \| World Grain](https://feedsoft.ai/events/10152-global-food-prices-up-for-third-straight-month-world-grain.md) | +6.4% | +6.3% |
| RICE | 2022-12-06 | [Australia forecasts record wheat crop despite floods](https://feedsoft.ai/events/38219-australia-forecasts-record-wheat-crop-despite-floods.md) | -1.9% | +2.7% |
| RICE | 2020-08-21 | [USDA - rice stocks drop - Brownfield Ag News](https://feedsoft.ai/events/51701-usda-rice-stocks-drop-brownfield-ag-news.md) | +3.7% | +2.9% |
| KWHEAT | 2021-08-17 | [USDA slashes global wheat production - Grain Central](https://feedsoft.ai/events/45538-usda-slashes-global-wheat-production-grain-central.md) | -4.4% | -6.8% |
| KWHEAT | 2019-07-11 | [Global Wheat Stocks Revised Lower, Boosting Prices](https://feedsoft.ai/events/58151-global-wheat-stocks-revised-lower-boosting-prices.md) | +0.1% | -5.3% |
| KWHEAT | 2020-07-14 | [Global wheat production on the decline - Grain Central](https://feedsoft.ai/events/52052-global-wheat-production-on-the-decline-grain-central.md) | -1.2% | -6.0% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/covid-19-lifts-prices-despite-big-wheat-stocks-usda/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.