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European diesel futures premiums over Brent have narrowed sharply, from nearly $60 a barrel a month ago to around $35 now. The compression follows the earlier spike in immediate diesel prices after Russia's invasion of Ukraine.
A narrower diesel crack signals easing European fuel tightness, which lowers operating costs for farm machinery, freight and processing. It is a market-level move with limited direct effect on feed ingredient supply.
bloomberg.comJack Wittels, Alex LongleyJul 22, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
