“Turkey submitted a proposal to Russia late last week to allow Black Sea shipments however so far, no peace talks are being considered. Russia claimed to have struck 2 bulk vessels and data centers in Kyiv overnight. A Reuter’s report states that 80% of Russia’s Black Sea grain export terminals could be operational once a peace agreement is reached having not sustained significant damage. IKAR reports Russia’s wheat export price ended last week at $267/mt FOB, down $1 from the previous week,” Soderberg said. “The Reuters survey shows traders expect all U.S. wheat production at 1.524 bil. bu., down from 1.531 bil. in August ’26.  Sept. 1 stocks are expected at 1.872 bil., well below the 2.134 bil. YA. Export inspections at 11 mil. bu. were in line with expectations, however, below the 14 mil. needed per week to reach the USDA export forecast. YTD inspections at 233 mil. bu. is down 34% from YA vs. the USDA forecast of down 15%.”