Turkish wheat stocks plummet, amid economic uncertainty.

Turkish wheat stocks are growing extremely tight due to economic uncertainty and a ban on Russian imports. US officials warned, with supplies implied to fall to less than two weeks of demand by the end of next season. The bureau cut its ideas of 2016-17 imports by 800,000 tonnes, to 4.0m tonnes and imports are seen rising to 4.5 million tonnes in 2017-18 due to ongoing demand for high quality wheat from flour and pasta exporters. By the end of 2017-18, stocks are seen falling to just 648,000 tonnes and assuming the uncertain economic environment continues to discourage stocking. The bureau forecast implies a stock to use ratio at an eye-wateringly tight 3.7%, enough for less than two weeks of consumption.