ADM Investor Services said, “Prices fell to new session lows in late trade closing $.13 to $.20 lower. For the week prices were $.24-$.50 lower with CGO the downside leader. Despite today’s weakness, CGO and KC held within yesterday’s range. Monday nights open will largely be driven by weekend peace talks.” Amanda Brill at Total Farm Marketing said, “The United Nation’s Foreign Agricultural Organization dropped their estimate of 2026 world grain production by 61.1 mmt to 2.98 billion mt. Although this would be the second largest harvest on record, it would also represent the biggest year on year decline since 2018. Global wheat production in specific is expected to rise by 0.5% to 810.7 mmt. However, this still falls well below the USDA’s estimate of 819.3 mmt on the August WASDE report.”