Written Commentary
ADMISI London Wheat Report: ICE Feed Wheat (1 July 2026)
- ADMISI Grains Team
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London Wheat Report
A day of slimmer volumes for London wheat today, with only 305 lots passing the exchange across both the Nov-26 and May-27 contracts. Both months ended the day higher following the other global wheat futures contracts. UK combines are now rolling in East Anglia and the south as we await initial yield figures with trepidation following near drought-like conditions.
Across the pond, Chicago corn and wheat futures rose throughout today, extending a rebound triggered by the U.S. Department of Agriculture’s acreage and stocks estimates. Soybeans were near flat as yesterday’s USDA increase estimate of U.S. planting and weaker oil prices curbed the oilseed market. The USDA’s sharp cut to its wheat area estimate was a particular surprise for the market and shifted attention back towards poor prospects for this year’s drought-affected U.S. harvest.
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