“Prices range from $.03 lower in KC to $.05 higher in MIAX futures. Spreads weakened across all 3 classes. The Dec-25 contracts in both CGO and KC hover near their 100-day MA. Dec-25 MIAX futures traded to a 6-week high. Jordan reportedly bought 60k mt of wheat in their recent 120k mt tender paying 262.50/mt CF for Feb-26 shipment. EU 25/26 soft wheat exports as of Nov. 9 at 8.38 mmt are down 3.8% YOY,” noted Mark Soderberg with ADM Investor Services. “The Reuters survey shows the U.S. wheat ending stocks are expected to rise about 25 mil. bu. to 867 due to the higher production forecast in the Sept. 30 USDA update just ahead of the shutdown.”