Written Commentary
ADM Reports Second Quarter 2026 Results
August 4, 2026
ADMISI London Wheat Report: ICE Feed Wheat 11 August 2026
- ADMISI Grains Team
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London Wheat Report
Volume on the London wheat contract remained relatively subdued, with a cumulative 489 lots traded ahead of tomorrow’s WASDE report. Prices softened into the afternoon session with both the Nov-26 and May-27 contracts ending the day in the red. Matif saw a larger volume traded but mirrored the negative sentiment across grains closing 1.25-5 EUR lower across the curve.
Jordan’s state grain buyer made no purchase in an international tender to buy 120,000 mmts of milling wheat, which did little to change the prevailing mood, despite offers from Bunge, CHS and Olam. A new tender is expected to be issued, closing on Aug 18th.
The EU Commission reported that EU soft wheat exports in the 2026/27 season totalled 1.01 mmt by August 9, up from 0.70 mmt a week earlier but down 57% year on year. Barley exports totalled 0.36 mmts, against 1.88 million tons in the corresponding period in 2025/26, whilst maize imports were at 1.58 mmts, against a year-earlier 1.26 million.
Across the pond, CBOT corn and soybeans fell throughout the day as participants adjusted positions ahead of the widely followed U.S. government crop forecasts on Wednesday. CBOT wheat also edged lower, with disruptions to Black Sea exports already factored into the market and reports of progress in talks to restore shipping through the Strait of Hormuz also hampering prices.
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