Written Commentary
ADMISI London Wheat Report: ICE Feed Wheat (7 July 2026)
- ADMISI Grains Team
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London Wheat Report
Another thin day on volume for London with price action consolidating after the sharp move higher across the ag complex. Harvest continues across the south and east of the country and also in Europe as hot/dry weather persists for the next 10 days, further stressing maize crops, although Euronext maize futures retraced 2.75-3.75 across the curve.
The US outlook also shows above average temperatures across the corn belt ahead of the critical pollination window, though the latest models show improved prospects for rainfall in the Western corn belt and parts of the Great Plains. NASS reports 59% of winter wheat harvested and 54% of US spring wheat headed. Conditions for spring wheat at 57% good to excellent, down 2%.
The EU Commission reports soft wheat exports from the European Union in 25/26 at 23.42 mmts by the end of the season on June 30, up 8% on 2024/25. Barley exports totalled 8.98 mmts, against 5.21 mmts in 2024/25, while EU maize imports were at 18.47 mmts, against a year-earlier 19.79 million.
Jordan’s state grain buyer made no purchase in an international tender for 120kmt of wheat, with a new tender expected in the next two weeks.
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