“Prices ranged from $.16 to $.20 lower. CGO Dec-26 was down $.19 ¾ at $7.54 ¼, KC Dec-26 was $.18 ¾ lower at $8.15 ½ while Dec-26 MIAX was down $.16 ½ at $7.65 ½. The rebound off session lows would suggest the market isn’t very confident Putin is serious about ending the war anytime soon. Asian importers have been forced to turn to Australia and Argentina to replace delayed cargoes from the Black Sea, often paying $50/mt CF more. Germany’s ag ministry estimates all wheat production will only reach 20.8 mmt, down 10% YOY. Wire services are reporting Saudi Arabia issued a tender for 535k mt of wheat for Nov/Dec shipment. Export sales at 11 mil. bu. were below expectations. Commitments at 315 mil. are down 31% from YA vs. the USDA forecast of down 15%. Commitments represent 41% of the USDA forecast, vs. the historical average of 47%,” pointed out Mark Soderberg with ADM Investor Services.