Written Commentary
ADM Reports Third Quarter 2025 Results
November 4, 2025
London Wheat Report
China imported no soybeans from the U.S. in September, the first time since November 2018 that shipments fell to zero, while South American shipments surged from a year earlier, as buyers shunned American cargoes during the ongoing trade dispute between the world’s two largest economies. Imports last month from the U.S. fell to zero from 1.7 million metric tons a year earlier, data from China’s General Administration of Customs showed on Monday. Shipments fell because of the high tariffs China has imposed on U.S. imports, and as previously harvested U.S. supplies, known as old-crop beans, have already been traded.
Brazil’s soybean planting pace is at around 23-25% done. This time last year they were at 9% planted.
Ukrainian farmers had threshed around 35 million metric tons of grains from the 2025 harvest as of October 20, the economy ministry said on Monday.
Estimates for the Australian crop have once again been increased as better-than-expected yields in western cropping regions boosted the production outlook despite losses caused by dry conditions in parts of the south. Polls showed Australia are set to produce 35.7M tonnes of wheat.
FND on London Nov 25 is a week today 27.10.25.
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