Turkey cuts tonnage to get a price for durum wheat

The article provides an overview of the current situation and future projections for the common wheat market in North America and Europe. It highlights the balance of the market ahead of threshing, despite potential weather-related challenges that could affect crop yields. The situation in Saskatchewan is particularly concerning, with poor yields and quality leading to significant losses. Despite these issues, the US and Canada are expected to offset this by contributing an additional 2.5 million tonnes of hard wheat.

The article also covers price fluctuations for last year's Canadian wheat stock, noting a decrease due to harvest pressure, with different price ranges for first and second quality wheat in various European markets. It discusses the impact of Russia's increasing dominance in the global common wheat market, particularly in traditionally EU markets like Algeria, Egypt, Tunisia, and Morocco, due to geopolitical tensions. This trend is expected to continue, further reducing the EU's export share and potentially leading to a more significant presence of Russian wheat in the market, a situation referred to as the "Russification" of the common wheat market.