Written Commentary
ADM Appoints Jeff Rowe as EVP and COO
July 20, 2026
ADMISI London Wheat Report: ICE Feed Wheat (20 July 2026)
- ADMISI Grains Team
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London Wheat Report
After a strong start, the rallies on European grain exchanges softened into the afternoon as US wheat markets started the week lower on a stronger dollar and harvest pressure. However, prices remain not far from 2-year highs as attacks on grain infrastructure and shipping continue in the Black Sea: Ukrainian officials report a Russian missile strike on a ship carrying corn near Ukraine’s Odesa port killed 10 people. Consequently, Sovecon reduced their estimates for Russia’s July grain exports from 1.7 mmts down from 2.65 mmts in June as export prices surged over the past week. They added: “We expect supplies to deep-sea ports to increase in the near term as harvesting progresses and navigation in the Sea of Azov remains closed. Rising logistics costs, however, will remain a constraint”
Meanwhile, Argus Media estimates the 2026 French soft wheat harvest at 30.8 Mt vs a 9-year average of 33 Mt, following the period of high temperatures in the run-up to harvest.
AgRural reports harvest in Brazil’s centre-south at 49% complete for the 2026 ‘Safrinha’ corn crop as of last Thursday, up from 40% in the previous week but behind the 55% reported a year earlier.
This represents a second consecutive week of steadier and more widespread progress across multiple states after a slow start caused by excessive moisture, with Mato Grosso leading the pace of fieldwork.
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