The wheat market has stabilized at current levels due to Turkey meeting the demands of importing countries and Canada's numbers being absorbed. The price of durum wheat in Foggia, Italy remains unchanged for the fourth week, with specific prices listed for different qualities of wheat. Oil prices have caused a rise in corn and soybeans on the Chicago Stock Exchange, while soft wheats have lagged behind due to low demand for American crops.
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In durum wheat, the new price list in Foggia was unchanged for a fourth week. Specifically, for quality wheat with a specific weight of 78 kg/hl, vitreous 70% and protein 12%, the merchant warehouse price is negotiated at 395-400 euros per ton. Also for the second quality with a specific weight of 76 kg/hl, vitreous 50% and protein 11%, the merchant warehouse price ranges from 385-390 euros per ton. The surprise of the year is, of course, Turkey, whose production has met many demands in different countries. For the time being, its exports reach 800,000 tons and logically it seems dynamic for even more quantities. It was Turkey's exports that caused the essentially correction and now stagnation in prices. Meanwhile, there are rumors that the Turkish government may put some export restrictions on durum wheat. On the Chicago Stock Exchange, the sharp rise in oil boosted corn as well as soybeans. Unfortunately, however, soft wheats lagged behind, mainly due to low demand for the ...