Written Commentary
ADMISI London Wheat Report: ICE Feed Wheat (8 July 2026)
- ADMISI Grains Team
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London Wheat Report
Brent crude, the star of the show today with a 7% move higher as President Trump announces that the interim deal reached with Iran last month was ‘over,’ and resumed strikes overnight. Whilst bean oil followed suit, both London and Euronext wheat contracts showed little in the way of direction and with exception of rapeseed and canola the rest of the ags complex traded broadly lower.
One USDA flash sale to China for 472 kmts of soybeans (136,000 kmts for 2025/26 and 336 kmts for the 26/27 marketing year) but wasn’t enough to reverse the selling pressure given their outstanding commitments.
Sovecon raised its 2026/27 Russian wheat export forecast by 0.2 mmts to 46.5 mmts with total Russian grain exports forecast at 56.1 mmts down from 57.9 mmts the year prior.
Jordan’s state grains buyer purchased about 60kmts of feed barley from LDC at $252.60 C&F.
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