Written Commentary
ADM Reports Second Quarter 2026 Results
August 4, 2026
ADMISI London Wheat Report: ICE Feed Wheat 23 September 2026
- ADMISI Grains Team
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London Wheat Report
Black Sea Ceasefire Developments in Focus
Wheat markets traded lower today as further positivity over a potential ceasefire in the Black Sea region is being priced into the market.
Markets reacted as United States Secretary of State Marco Rubio said on Wednesday, “I think both sides have expressed an interest in some limited ceasefire that involves grain and energy.” A Russian government spokesperson flagged talks with mediator Turkey about ending strikes on grain vessels. The most-active wheat contract in Chicago fell as much as 1.75% on Wednesday. Corn dropped as much as 1.4%, the most in nearly two weeks. The moves follow a flurry of diplomatic developments on the sidelines of the UN General Assembly in New York.
Ukraine Outlines Baltic Export Route Requirements
Ukraine announced today through Agriculture Minister Taras Vysotskyi that it could ship 20m tons of grain through Baltic ports, but for this, it would need $2B from European and global partners. Ukraine said in a statement, “With Baltic routes adding about $100/ton to transport costs, it would only be possible if it was subsidised by others.”
Russian Wheat Export Estimate Revised Higher
Rusagrotrans Analytical Centre raised its September Russian wheat export figure for the second time today. It now believes Russia will export 2.3M tons this month, up from the initial 1.75M ton estimate and raised further from its previous increase of 2.2M tons.
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