Written Commentary
ADM Appoints Jeff Rowe as EVP and COO
July 20, 2026
ADMISI London Wheat Report: ICE Feed Wheat (29 July 2026)
- ADMISI Grains Team
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London Wheat Report
Another slow day on the London wheat contract on thin volume and little on the way of price action despite Brent crude posting another 7.5% move higher on the re-resumption of hostilities in Iran. Both Euronext and Chicago equally traded both sides of unchanged, though soybeans were again the big mover following increased chances of rain forecast later this week across Iowa, southern Wisconsin, northern Illinois, and the Eastern Corn Belt.
Meanwhile, conflict in the Black Sea continues, with SovEcon reducing its Russian wheat export estimate by about 4%. Russian officials are also proposing arming grain ships with machine guns and mobile missile launchers to counter Ukrainian drone attacks. The Ukrainian Agri Council has warned that the country’s agricultural sector risks a wave of bankruptcies unless the government urgently addresses the suspension of maritime exports: “if the seaports remain shut, export capacity could fall to just 1.7 million tons a month, creating a substantial surplus on the domestic market”.
The Turkish Grain Board has agreed to lift their export restriction of milling wheat, which has been in place since March 2025 following an assessment of production and current stocks deemed food supply to be sufficiently secure. Exports will be carried out in a “controlled and balanced manner” and will be subject to the Board’s assessments of applications. Turkish Wheat production is expected to increase some 27% to a record 22.8 million tons this year.
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