ADMISI London Wheat Report: ICE Feed Wheat 03 November 2026

London Wheat Report

031126 LWR Futuresource chart

London Wheat

Another thin session for London wheat, with just under 240 lots trading as the market settled lower across the board. May-27 took almost all of the volume, settling £1.00 lower at £201.00 after briefly testing the £200.00 mark. Nov-26 settled £1.00 lower at £191.25 without trading, while Nov-27 lost £2.25 to £191.00 and Nov-28 settled £1.25 lower at £196.25 after 18 lots changed hands at £196.00.

Matif and CBOT

Matif saw heavier losses, with Dec-26 falling €3.00 to €225.25 on almost 48,000 lots, having traded as high as €229.50, while Mar-27 lost €3.25 to €224.00. Across the pond, CBOT Dec-26 SRW was down 5½ cents at $6.01 at the time of writing, having again dipped below the $6 mark to $5.96½.

Russian Export Forecasts

The market largely shrugged off news from IKAR, which cut its forecast for Russian grain exports in 2026/27 to 49.5 mmt from 52.8 mmt, Interfax reported. The wheat export forecast was cut to 39.5 mmt from 42 mmt. CEO Dmitry Rylko said exports are currently developing in line with the stress scenario, although shipments are increasing despite difficulties.

Wider Grain Complex

Instead, pressure came from the wider grain complex, as corn fell to its lowest intraday level since 2 July and soybeans to the lowest since 17 August before paring losses. With the US soybean harvest 88% complete and corn 74% done, Bloomberg noted that supplies are expanding faster than the pace of export sales, despite fresh USDA sales of corn to Mexico and South Korea.

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