Written Commentary
ADM Reports Third Quarter 2025 Results
November 4, 2025
London Wheat Report
Sluggish volumes led by lower prices on London wheat future contracts again today, Nov-25, managed 153 lots with the price heading further into the red, ending the day £3.00 down. The further dated contracts did not fare any better, with all traded contracts ending the day in the red. Matif wheat also shared the same fate with all traded contracts, giving up more of the previous day’s gains.
Matif wheat dropped more than 1% throughout the day after it tracked a fall in U.S. markets; however, a weaker euro against the USD following a trade agreement between the European Union bloc and the United States helped to cushion the decline. The euro hit a one-month low versus the dollar on Tuesday in the wake of a string of trade agreements with the United States. News from Germany: reports of another day of widespread rain disrupted the wheat harvest, with some damage now feared following repeated wet weather. Time will tell if fears are merited, but it is certainly one of the few bullish snippets about.
Further west, Chicago soybean and corn futures fell on Tuesday, pressured by expectations of large U.S. harvests amid benign weather across the Midwest, while wheat continues to be pressured by the winter wheat harvest in the Northern Hemisphere. Forecasts for cooler weather and timely rains this week in the U.S. crop belt reinforced expectations for bumper yields, pressuring corn and soybean futures.
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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