UK ethanol plants to support wheat prices through June

In the UK, wheat demand by ethanol plants is expected to remain strong for the next few months, at least through June, supporting wheat prices despite a decline in exports based on smaller stocks than expected. Spot ethanol prices in Europe continue to support the bottom lines of major producers Vivergo and CropEnergies, meaning the stronger wheat prices aren’t having the negative impact on margins they might have otherwise. Talk in the market indicated that Ensus may be currently using corn rather than wheat.