Maersk completes first commercial ethanol bunkering, opening a new demand channel for corn

Maersk has completed the first commercial ship-to-ship bunkering of an ocean-going container vessel with ethanol produced entirely in the United States, according to the Romanian agricultural publication agrointel.ro. The fuel was delivered to the vessel Tangier Maersk at the Port of Mobile, and the operation forms part of the carrier's programme of alternative-fuel trials aimed at reducing emissions from maritime transport.

The company stresses that ethanol use in shipping is still at the testing stage. Three conditions will determine whether the fuel moves beyond demonstration: fuel availability, regulation, and port infrastructure capable of handling bunkering at scale. None of those is settled, and Maersk has not announced a timetable for wider adoption.

A new outlet for corn

For grain producers, the relevance is the feedstock. Corn is the base raw material for ethanol production, and the United States is the world's largest ethanol producer, with manufacturing and distribution infrastructure already in place. That means the supply side could respond to marine demand without building new plants, which is unusual for an emerging fuel market.

The scale of any such demand remains undefined. A single bunkering operation on one container ship establishes technical and commercial feasibility, not a market. Volumes will depend on how quickly bunkering permits, port tank capacity and emissions rules align behind ethanol as a recognised marine fuel option.

Grain futures stay under pressure

Paris milling wheat attempted to recover, with the December contract gaining almost 2 euros after four consecutive down sessions that had taken the market to a six-week low. Chicago wheat continued to fall, pressured by a stronger dollar, weak export demand and persistent hopes of diplomatic de-escalation in the Black Sea.

Corn moved the other way from wheat on the European exchange: MATIF corn kept depreciating, tracking CBOT, where corn is holding near a one-month low. US farmers had harvested only 18% of planted area, below the five-year average, after rains delayed fieldwork. The market was also disappointed by the outcome of the Trump–Xi summit, which brought no new Chinese commitments to purchase American grain. In oilseeds, US soybeans remain subject to an additional 10% duty imposed by Beijing — a level too high for private Chinese importers to absorb, which preserves the competitive advantage of Brazilian supply.

Constanta physical market

On the physical market, milling wheat DAP Constanta lost another 3 euros while feed wheat gained 4 euros, narrowing the spread between the two categories to just 9 euros — the tightest in weeks and a sign of firmer demand in the feed segment. Buyers are nonetheless hesitating at current levels because alternative offers are available. Corn was unchanged, feed barley corrected by 3 euros to the level of feed wheat, sunflower seed was flat after two weeks of corrections, and rapeseed gave up 5 euros in line with Euronext. At an exchange rate of 1 euro = 5.28 lei, quotations for Tuesday, 29 September 2026 were:

• Milling wheat: 222 euros per tonne (1,171 lei)
• Feed wheat: 213 euros per tonne (1,123 lei)
• Corn: 231 euros per tonne (1,218 lei)
• Feed barley: 213 euros per tonne (1,123 lei)
• Sunflower seed: 487 euros per tonne (2,570 lei)
• Rapeseed: 525 euros per tonne (2,771 lei)

Ukraine logistics and EU yields

Ukraine does not expect a maritime truce with Russia in the near future after Moscow rejected ceasefire proposals, the Ukrainian agriculture minister said in comments cited by Bloomberg, adding that favourable decisions are difficult to anticipate in the coming months. Restrictions on operations at the Greater Odesa ports, in force since 21 July, hit the agricultural sector directly. Kyiv has expanded its use of road, rail and river routes through the Solidarity Lanes and the Danube, but the alternatives are more expensive: additional logistics costs reach about 50 euros per tonne, and Ukraine is asking the European Union for 1.1 billion euros to develop longer alternative routes, including through Germany. Domestic wheat prices have already fallen by almost 30% in two months, according to the minister.

In the European Union, JRC MARS kept summer crop yield forecasts well below the five-year average and cut them further this month — by 7% for sugar beet, 2% each for grain maize and soybeans, and 1% for potatoes. Grain maize yield is now estimated at 6.50 t/ha against a five-year average of 7.09 t/ha, and soybeans at 2.26 t/ha against 2.67 t/ha. Sunflower was the exception, improving 2% month on month to 1.96 t/ha, close to the five-year average of 1.99 t/ha. Mid-August rainfall came too late to offset summer losses but helped winter cereal sowing, while dry soils in south-western and south-eastern Europe are complicating winter rapeseed establishment and excess rain is hampering harvesting in the Baltic states.