This study examines the microbiological and mycotoxicological quality of common wheat in Romania in the extremely dry 2023–2024 agricultural year. Common wheat grown in the West Plain, Southern Hilly Area, Transylvania, and northern Moldavia (45–48° N, 21–27° E) had higher moisture content, water activity, Fusarium-damaged kernels, and deoxynivalenol levels. This was due to moderate temperatures, abundant precipitation, and soil water reserves in May, followed by moderate drought from June to August. Conversely, common wheat from the Oltenia Plain, the Southern Plain, and southern Moldavia (43–46° N, 23–28° E) had the lowest contamination levels, attributed to extreme temperatures and drought during June–August. Common wheat from Dobrogea (45° N, 28° E) showed the highest total fungi contamination, which was influenced by precipitation at harvest. Although microbiological and mycotoxicological contamination was low, it negatively affected the physico-chemical and sensory–colorimetric parameters of common wheat, particularly in the West Plain, Oltenia Plain, and Dobrogea. Consequently, there could be significant economic losses for farmers, storekeepers, millers, and bakers, as well as a decline in the quality of finished foods. Moreover, the coexistence of deoxynivalenol and total aflatoxins in common wheat grown in the northwest of the country indicates the spread of contamination due to dry conditions and climate change.