Futures Close 31/03/22

US reported to be considering increasing ethanol blend in fuel to 15% (E15) – in order to lower fuel prices in the US which are at record highs given the Russia / Ukraine war.  However, clearly this would also have the effect of increasing demand for US corn stocks which are the main feed stock for US Ethanol production – which in turn could be inflationary on food prices within the US,  and provide further support to the already firm global maize market.