“Prices were $.02-$.03 lower in 2-sided trade.  CGO Dec-26 was down $.03 at $6.69 ¼, Dec-26 KC was also $.03 lower at $7.12 ¼ while Dec-26 MIAX was $.02 ¼ lower at $6.94. IKAR cut Russia’s 2026 wheat production forecast .5 mmt to 88 mmt, matching the USDA est., while lowering their export forecast 1.5 mmt to 42 mmt, vs. the USDA est. of 40 mmt. Rabobank forecasts Australia’s 2026/27 wheat production at 31 mmt, down 13.3% YOY also in line with the USDA. Algeria reportedly bought around 600k mt of milling wheat near $326/mt CF. The grain was likely sourced from Russia via Baltic ports, along with Romania, Bulgaria and Argentina. Shipment is for Dec-26. Export inspections at 11 mil. bu. was in line with expectations. YTD inspections at 256 mil. bu. is down 35% from YA vs. the USDA forecast of down 17%. Traders expect U.S. winter wheat plantings have reached the halfway point," stated Mark Soderberg with ADM Investor Services.