Written Commentary
ADM Reports Third Quarter 2025 Results
November 4, 2025
Source of both tables: Bloomberg
Market Update
- Market retraced yesterday afternoon as speculation continues on whether the U.S. will tap into its SPR.
- Data from the DOEs showed that there was a build in Crude, however there were draws at Cushing and in products.
- Effectively this would have continued the bullish sentiment to the market, but speculation grew that the U.S. would tap into the reserves in order to curb this bullish sentiment. Biden stated yesterday that inflation was their priority with special focus on energy inflation.
- Underlying structure of the market and perhaps a more reflective position of the physical market remains strongly backwardated.
Oil Data Release
Macro Data Release
Contact the ADMISI Energy Desk
Marco Saggese, Sharon Mitchell, Tony Scuderi
Phone: +44 (0)20 7716 8550 Email: energy.desk@admisi.com
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. 2547805, 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. © 2021 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.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
Latest News & Market Commentary
ADM & Industry News
ADM Exceeds 5M Regenerative Agriculture Acreage Gal
September 9, 2025
ADM Reports Q2 2025 Results
August 5, 2025
