Written Commentary
ADM Exceeds 5M Regenerative Agriculture Acreage Gal
September 9, 2025
Good morning,
The market marginally improved yesterday but it was a very slow day with minimal trading volume (just over 63k lots). The market had opened 9 points lower but soon dropped through the previous day’s lows to the low of yesterday all in the first 5 minutes of the session. The market soon improved and then remained quiet for the rest of the morning. Prices did improve as US traders got to their desks to reach highs of the day but it was pretty unconvincing with prices soon dropping back before lifting late in the day. The VH and HK finished unchanged at -15 and +137 respectively. In London it was a slightly different story with flat prices weak and structure weakening. The VZ dropped nearly $2 to end at +5.60 while the ZH also slipped slightly to +9.40. This meant the WP also dropped away with the VV WP ending over $4 lower at 140.10 and the VZ down $6 at 131.20. With little fresh fundamental news around the market seems unsure of its next move. Having dropped over 50 points on Monday on a correction prices consolidated yesterday in very thin volume with neither producers or consumers interested at current levels.
The weather across Brazil’s CS remains favourable for the crush so another good set of data should be seen for the first half of July which Unica should release next week. The Indian monsoon is seeing decent rains across most regions although there has been talk of uneven distribution, especially across Maharashtra which could impact on yields. However, rains appear to have picked up recently with rain forecast over the next week.
This morning the market opened unchanged before gaining 5 points. However, the gains were very short lived with prices soon dropping into the negative column. Currently, prices are 11 points lower. The VH is unchanged at -15 while the HK is 1 point weaker at +136. In early London trading, the VZ is a tad weaker at +5.30 while the ZH is firmer at +10.00. The macro is mixed this morning with crude slightly lower, grains/soya higher while the USD Index is marginally firmer. The BRL was unchanged at 4.81 last night. As mentioned above the market seems unsure of direction at the moment. While the trading volume remains so thin it is likely to remain volatile but perhaps the market will try to consolidate between 23 and 24 cents.
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© 2023 ADM Investor Services International Limited.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 02547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2025 ADM Investor Services International Limited.
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