Written Commentary
ADM Reports Second Quarter 2026 Results
August 4, 2026
ADMISI London Wheat Report: ICE Feed Wheat 02 September 2026
- ADMISI Grains Team
- Follow us on Twitter @ADMISI_Ltd
London Wheat Report
Black Sea Grain Transit Discussions Remain a Focus for Grain Markets
A topsy-turvy day on grain markets, which opened lower on renewed optimism for a solution to the passage of grain through the Black Sea, with talks between Putin and Erdogan being held on the sidelines of a Shanghai Cooperation Organisation summit in Kyrgyzstan. However, by the afternoon session it appeared that little progress had been made in talks; the Ags complex as a whole reacted by trading higher, before cooling somewhat later in the session. London followed this trend with 1030 lots passing through the exchange.
Ukraine Reports Agricultural Export Volumes Below Potential in August
Consequently, Ukraine has shipped about one-third of its potential agricultural export volume in August, according to Agriculture Minister Taras Vysotskyi. The EU has responded that it is looking “at all possible lanes” to support grain exports from Ukraine, including via so-called ‘solidarity lanes’, though efforts have been complicated by low water levels on the Danube.
Russia Suspends Grain Export Duties Through the End of 2026
Meanwhile, Russia has suspended the floating export duty on wheat, barley and corn through the end of 2026 “given the need to restructure logistics,” read a statement from the Economy ministry. Research firm SovEcon forecasts that September exports will fall to the lowest level for that month since 2010.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 02547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2026 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
