Written Commentary
ADM Reports Q4 and Full-year 2025 Results
February 3, 2026
London Wheat Report
A quiet start to the week as the US holiday for Martin Luther King Jr. day had its usual knock-on effect to the European markets. Volumes were sluggish on both Matif and London. London saw less than 100 lots cross the line across the curve.
Large volumes of Wheat were purchased today with Saudi Arabia purchasing 907,000 tons and Algeria purchasing between 600,000 and 720,000 tons. Argentina was said to be the origin with the wheat being so cheap even the black sea origins were not in the running.
Brazil’s soybean exports are expected to fall 3% in 2026 from last year, agribusiness consultancy Safras & Mercado said on Monday, estimating shipments from the world’s largest producer and exporter to total 105 million metric tons.
The price for Russian wheat with 12.5% protein content for free-on-board delivery in the second half of February was $227.50 a metric ton at the end of last week, up $2.50 from January 13, according to Dmitry Rylko, head of the IKAR consultancy.
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