“Media outlets are reporting a truce deal drafted by the United States and Russia would enable Russia to maintain certain territories occupied in eastern Ukraine,” Mark Soderberg of ADM Investor Services said. “A peace summit reportedly could occur as early as next week. IKAR raised their Russian wheat production forecast 0.5 mmt to 84.5 mmt, just above the USDA forecast of 83.5 mmt. Ukraine’s grain harvest has reached 19.9 mmt as of Aug. 7, of which 14.9 mmt is wheat.”