CUSTOMS deputy head Wang Jun said at a State Council press briefing that in the first nine months China's imports of storage components rose 1.5-fold, integrated circuit imports climbed 56.6% and aircraft parts imports rose 17.6%. CUSTOMS attributed the import surge to steady economic activity, continued unlocking of China’s ultra-large market, expansion of advanced manufacturing and strong demand for intermediate and key components.

The New York Times reports Fed Governor Cook is disputing President Trump's latest effort to remove her and has questioned the objectivity of a White House investigation into alleged mortgage fraud. In a letter to the White House, Cook's lawyer Abe Lowell said she cannot attend a hearing scheduled for Nov. 5 because she will be in Europe for a finance and monetary policy meeting, and that any hearing would be held no earlier than after the Fed's Dec. 8-9 policy meeting. Lowell also challenged the probe's neutrality, noting the committee conducting it is composed of Trump-appointed political officials, including White House National Economic Council director Hassett. Trump has long pushed to increase control over the Fed to lower borrowing costs; when asked last Friday about the probe he called Cook "dishonest" and said he would "absolutely" fire her if the committee found grounds for removal.

Galaxy Securities says a super El Niño has formed and will inject a forward weather premium, supporting near-term strength in soybean meal, rapeseed meal, the three major vegetable oils and white sugar; corn, hogs and cotton are expected to trade sideways. US soybean downside appears fully priced, which should lift import costs and reinforce soybean meal gains alongside temporary domestic supply tightness; rapeseed meal will track soybean meal. Oils receive three supports: weather premium, stronger crude boosting biodiesel demand, and higher bean-derived costs as US soybean weakness is exhausted. White sugar strength is driven by El Niño-triggered global output risk; raw sugar has firmed, domestic-international spreads narrowed, and Zhengzhou sugar is supported by rising import-cost parity. Corn faces a new-crop supply vs. state-procurement tug-of-war — monitor procurement timing and new-crop opening prices. Hog supply remains loose; a sustained rebound likely needs seasonal pickling/curing demand or concentrated second-cycle restocking to catalyze. Cotton faces new-crop pressure offset by procurement-cost floors; direction will depend on seed-cotton purchase prices, collection progress and whether peak-season orders materialize.