Futures Close 24/06/22
G7 – discussions of temporary waivers to biofuel blending targets helping push markets lower – G7 due to meet on Sunday. Talk of prioritising crops for food consumption rather than fuel.
Largely this would effect maize / wheat for ethanol and OSR for biodiesel.
UK government have indicated their willingness to assist in de-mining operations in the Black Sea region to open up access to Ukraine ports to facilitate grain exports, there is also a willingness to assist vessel owners to get insurance on their ships for the Black Sea region.