Written Commentary
ADM Exceeds 5M Regenerative Agriculture Acreage Gal
September 9, 2025
London Wheat Report
A similar day to yesterday, with both London and Paris wheat tracking lower. Chicago wheat found support in the main session with Sept24 up 8.5 at a stage, but this didn’t filter through to the European wheat markets.
Soybeans also appeared to steady today after hitting another four-year low on a bumper outlook from the US harvest. Corn also crept upwards, although upside potential for grains remains limited as the potential for large-quality crops and strong export competition hang over the cereal markets. The close weather outlook remained kind for corn and soybean crops in across the US Midwest, although a potential drought in Ukraine has several producers warning that the corn crop could shrink by a third from last year if there is no rain relief.
Ukraine’s grain exports sat at 5.26 mmt in 2024/25 July-June as of Aug. 14. This compares to 3.12 mmt on the same date a season earlier. The volume included 2.4 mmt of wheat, 2 mmt of corn, and 795,000 metric tonnes of barley. With several MEA countries tendering for large volumes, the increase in availability of Black Sea-derived grain is certainly assisting.
Jordan has continued their weekly trend of tendering without purchase, this time looking for 120,000 metric tonnes of barley. A week ago, the state grain buyer issued a separate tender to buy 120,000 metric tonnes of wheat closing on August 20, which similarly went unfilled.
Finally, France’s FranceAgriMer announced today that this year’s drastically reduced besieged wheat crop is also showing mixed milling quality, mainly for test weights. FranceAgriMer stated that test weights were “extremely varied depending on rainfall and sunshine,” with “regional averages low in the east and satisfactory to good in the west.” The group went on to announce that Hagbergs and protein levels were “generally satisfactory” across the country. These parameters set by millers have historically been strictly adhered to, with milling wheat not meeting spec downgraded to animal feed.
Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team
Ryan Easterbrook, Aaron Stockley-Isted and Jamie Kirkwood
Phone: +44 (0)20 7716 8477 or +44 (0)20 7716 8140 Email: intl.grains@admisi.com
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