“Prices were down $.10-$.16 as the wheat market experienced spillover selling from yesterday’s weak close. Spreads weakened in all 3 classes with most spreads in CGO hitting new lows. CGO July-26 was down $.16 ¼ at $6.36 3/4, KC July-26 was $.11 ¼ lower at $6.93 ½, while MIAX July-26 was off $.10 at $7.05 ¾. Deliveries against CGO wheat were 400 contracts while 578 for KC wheat. Export sales at 14 mil. bu were in line with expectations. Old crop commitments at 907 mil. bu. are up 16% from YA, vs. the USDA forecast of up 9%. Winter wheat acres in drought fell 1% to 69% while spring wheat acres in drought held steady at 18%. SovEcon raised their Russian wheat export forecast for 25/26 MY .9 mmt to 47.4 mmt, well above the USDA forecast of 44.5 mmt. SovEcon also raised their 26/27 export est. 1.4 mmt to 45.2 mmt. The EU Commission raised their 26/27 production forecast 1.4 mmt to 127.3 mmt while lowering their export forecast .35 mmt to 30,” stated Mark Soderberg with ADM Investor Services.