Written Commentary
ADM Reports Second Quarter 2026 Results
August 4, 2026
ADMISI London Wheat Report: ICE Feed Wheat (04 August 2026)
- ADMISI Grains Team
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London Wheat Report
The weaker sentiment in grains persists on a benign weather pattern for the Midwest, which saw prices across the board work lower as a cold front moves into the southeastern Corn Belt, with parts of Iowa, Illinois, and Wisconsin due to get 1–2 inches of rain as soybeans enter the crucial pod-filling stage. One USDA flash showing China buying 132,000 mts of soybeans for the 2026/2027 marketing year did little to stem the losses.
The European Commission released their weekly European Union soft wheat exports update for 2026/27, showing 0.7 mmts exported by August 2nd, up from 0.57 mmts a week earlier, though down 61% year on year. Lithuania was the largest exporter with 202,606 mts, followed by Bulgaria (161,732 tons), Germany (128,633 tons), Poland (66,627 tons) and Latvia (58,727 tons), though this does not include all of the data for France. EU barley exports had reached 0.31 mmts, up from 0.25 mmts the previous week but down 82% year on year.
Jordan’s State grain buyer passed on a tender for 120 kmt of milling wheat, which did little to support prices. Whilst Bunge and Aston took part, this is likely to be re-tendered on Aug 11th. Meanwhile, a group of South Korean flour mills bought 50kmt of milling wheat to be sourced from the US.
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