Written Commentary
The Ghost in the Machine: Q3 2026 Macro Outlook
September 28, 2026
ADMISI London Wheat Report: ICE Feed Wheat 05 October 2026
- ADMISI Grains Team
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London Wheat Report
Global Wheat Markets Start the Week Higher
London wheat followed the rest of global wheat further up today as global Ags started the week in a strong manner. Just over 450 lots of volume passed through all traded London wheat contracts as market participants capitalised on the day’s price rises. MATIF wheat also looked strong, with good volume and green across the screen.
Geopolitical Developments Remain in Focus
Today’s rises in wheat prices look, in part, to be linked to Russia’s sabre-rattling over escalating the war in Ukraine, potentially worsening disruptions to global grain supplies from the Black Sea region. The Russian government said it would intensify strikes on Ukraine’s infrastructure following a vow from President Zelenskyy to double down on strikes against oil refineries.
Russian Grain Procurement Intervention Update
Staying in the East: the TASS news agency reported today that Russia’s state grain procurement interventions could begin at the end of October, as Agriculture Minister Oksana Lut stated. Bloomberg highlighted that a bank was still to be selected for the purchases, identifying an important hurdle still to contend with.
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