Hi
I ultimately took a different approach and used temperature and lux sensors that output data on I2C directly. Did not use the ADC (at least for now). But I think it should be possible to use the ADC too.
I added i2c-tools to the Yocto image which gave me i2cdetect and i2cget functions to test the i2c bus. Though I'm not sure if those are needed to use the bus itself.
Then I put both the temperature sensor and the lux sensor on the i2c-1 header on the Wandboard. It turns out that this actually corresponds to /dev/i2c-0.
Hope this helps someone else in the future. It works like a charm!