Written Commentary
Ag Market View for December 10.2025
December 10, 2025
NATURAL GAS
January Natural Gas was down for the third straight session early Wednesday, as the weather forecast continues to moderate, but after a 17% decline of 0.941 in just four sessions, the market may be due for a bounce. EU countries’ ambassadors on Wednesday greenlit the bloc’s plan to phase out Russian gas imports by late 2027, with Russian LNG imports ending by the end of 2026 and pipeline gas by the end of September 2027. This is not a surprise, as this is one more step in a process has several. The bill still requires passage in the EU Parliament, which is expected to be voted on next week, and formal approval at a meeting of EU countries’ ministers early next year.
PRODUCTS
January RBOB has broken below the November 25 low, reestablishing the downtrend from the November 11 high.
CRUDE OIL
February Crude Oil edged lower early Wednesday. The market may be drawing some support from lowered expectations for a peace deal in Ukraine, but it still faces the prospects of oversupply next year. Kazakhstan’s energy ministry said today (Wednesday) that it would redirect some oil from the Kashagan oil field to China after a Ukrainian drone attack on the Caspian Pipeline Consortium’s Black Sea terminal at the Russian port of Novorossiysk. Sources told Reuters this week that Kazakhstan plans to supply 50,000 metric tons to China. Ukrainian President Volodymyr Zelenskiy said his country and its European partners will soon present the US with “refined documents” on a peace plan to end the war with Russia.
Interested in more futures markets? Explore our Market Dashboards here.
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.
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
Fed Expected to Lower Rates Today
December 10, 2025
EU Ambassadors Approve Plan to Cut Russian Gas by 2027
December 10, 2025
