Written Commentary
ADM Reports Third Quarter 2025 Results
November 4, 2025
London Wheat Report
Just over 600 lots cumulatively through London wheat May-25 and Nov-25 contracts today. London followed Matif and Chicago further into the red, with the London May contract losing £4.45 on the day.
With the prospect of Northern Hemisphere crops potentially now not facing the previously reported harsh winter weather, wheat futures across the pond and closer to home all fell. Chicago corn also slipped away from an 18-month high seen early on Friday on expectations that U.S. farmers will respond to a recent price rally by planting more corn. Soybean prices were also making their way down as Brazil’s crop is reportedly progressing well.
Further east, Russian wheat export prices continued their upward trend seen last week on the back of a stronger rouble and lower shipments, with analysts expecting growth to continue. Prices have been reported to have almost reached the level of late May 2024—a period when the global market reacted to potential crop losses after frosts in Russia.
Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team
Ryan Easterbrook, Aaron Stockley-Isted and Jamie Kirkwood
Phone: +44 (0)20 7716 8477 or +44 (0)20 7716 8140 Email: intl.grains@admisi.com
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