“Prices were $.02-$.03 lower while spreads were mixed and little changed. Near-term support for Dec-26 futures is at LW’s low of $5.26 ½ with resistance at the contract high of $5.49 ¾. Conab reports Brazil’s 2025/26 2^nd crop harvest has reached 94% while AgRural reports the 2026/27 1^st crop plantings are up to 17%. I look for U.S. ratings to fall another 1-2% with harvest in the single digits. Export inspections at 65 mil. bu. were above expectations with 40 mil. bu. for 2025/26 MY while 25 mil. were for 2026/27. Final inspections for 2025/26 were a record high at 3.340 bil. bu. New crop inspections at 25 mil. bu. is down 2% vs. the USDA forecast of down 4%. Noted buyers were Mexico – 16 mil., Japan took 14 mil. while Colombia took 12 mil.,” wrote Mark Soderberg with ADM Investor Services.