Written Commentary
ADM Reports Second Quarter 2026 Results
August 4, 2026
ADMISI London Wheat Report: ICE Feed Wheat 21 September 2026
- ADMISI Grains Team
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London Wheat Report
London Wheat Starts the Week Higher
A steady start to the week for London Wheat, as only 247 lots passed through the exchange, ultimately resulting in all traded contracts ending the day in the green. Matif wheat also saw a slim volume pass through the exchange as the contract struggled to mirror CBOT wheat’s early-week price optimism.
US-China Trade Talks Provide Market Support
Wheat and corn futures rose after initial US-China trade talks were described as positive by both sides, raising hopes for the leaders’ summit later this week. Black Sea disruptions also supported prices. The US Treasury Secretary said discussions on Sunday had been “very successful”, while the top Chinese trade negotiator stated that they had been conducted in a good atmosphere. Presidents Trump and Xi Jinping are set to meet in Washington on Thursday.
China Soybean Purchasing Activity Remains in Focus
The meeting will be the Chinese leader’s first state visit to the US capital in more than a decade. China is over halfway to meeting its pledge to buy 25 mmt of US soybeans this year, with the country’s state-owned firms booking at least four cargoes, totalling 260,000 tonnes, of US soybeans late last week. However, progress on a separate commitment to spend billions of dollars more on American crops has largely stalled.
Market Monitors Developments in the Black Sea Region
Further east, market participants have continued to monitor the latest signals from the Black Sea region as they try to ascertain the prospects for a return to normal grain flows from the crucial source. It was reported that Russian forces struck two bulk carriers in and near Odesa, as well as port infrastructure at Izmail, overnight. This follows the Moscow Oil Refinery taking damage from drone attacks that were part of the largest overnight Ukrainian barrage this year.
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