# European ethanol margins hammered by natural gas rise

> European ethanol production margins were squeezed on Thursday as natural gas prices jumped about 50% with March Dutch TTF futures above €144/MWh. European wheat futures rose up to 16% and corn up to 11% as the Ukraine-Russia conflict sent energy and grain prices sharply higher.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/42709-european-ethanol-margins-hammered-by-natural-gas-rise
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Higher European gas and grain costs squeeze ethanol margins and can curb European ethanol and wheat-based distillers output, while higher grain prices lift feed input costs.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-07-29 | [Gas supply issues in Europe cause havoc with Nitrogen prices.](https://feedsoft.ai/events/5032-gas-supply-issues-in-europe-cause-havoc-with-nitrogen-prices.md) | +4.4% | -0.4% |
| WHEAT | 2026-09-09 | [Feed price rises point to tighter margins this winter   - Farmers Weekly](https://feedsoft.ai/events/17594-feed-price-rises-point-to-tighter-margins-this-winter-farmers-weekly.md) | -1.4% | -3.8% |
| WHEAT | 2025-04-14 | [Black Sea Significance to European Security \| Royal United Services Institute](https://feedsoft.ai/events/14215-black-sea-significance-to-european-security-royal-united-services-institute.md) | +3.9% | +3.1% |
| WHEAT | 2024-11-20 | [Has the Global Wheat Market Changed?](https://feedsoft.ai/events/27442-has-the-global-wheat-market-changed.md) | -0.0% | +0.4% |
| WHEAT | 2026-08-29 | [Prairie Wheat and Barley Prices Rise During Harvest as Global Supply Concerns Support Markets](https://feedsoft.ai/events/17991-prairie-wheat-and-barley-prices-rise-during-harvest-as-global-supply-concerns.md) | +2.2% | +6.2% |
| CORN | 2024-03-25 | [European ethanol prices up on indirect war effects \| Latest Market News](https://feedsoft.ai/events/31198-european-ethanol-prices-up-on-indirect-war-effects-latest-market-news.md) | -4.9% | -6.9% |
| CORN | 2022-07-29 | [Gas supply issues in Europe cause havoc with Nitrogen prices.](https://feedsoft.ai/events/5032-gas-supply-issues-in-europe-cause-havoc-with-nitrogen-prices.md) | +2.4% | +3.2% |
| CORN | 2026-09-09 | [Feed price rises point to tighter margins this winter   - Farmers Weekly](https://feedsoft.ai/events/17594-feed-price-rises-point-to-tighter-margins-this-winter-farmers-weekly.md) | +3.9% | +1.2% |

## Sources

- qcintel.com: https://www.qcintel.com/article/european-ethanol-margins-hammered-by-natural-gas-rise-4333.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.