| Global grains were broadly in the red across the board in sympathy with stock market, following expectation that monetary policy could start to tighten as the FED starts to raise interest rates to control inflation, similarly to recent moves by the B of E. Rapeseed prices were unable to sustain the recent surge in prices, dipping below €800/T once again. Forecasts remain hot and dry for Argentina over the next 10 days. Indonesia have extended their B30 mandate to 2022, which requires biodiesel to contain 30 percent palm oil-based fuel. Large areas of the US HRW wheat area remain in drought condition in the southern plains. Weaker ethanol demand data added pressure to markets with demand falling from 910K barrels to 782K up to 31.12.21 |
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