Market Activity

The morning started with rumors and reports of RFS2 changes including a shift of the obligation from refiner to blender, but also reports of a producers tax credit. Ethanol companies and blenders blasted the administration, the RIN market traded furiously lower before ending the day back up, although lower than yesterday. The bean oil market was up over 200 points at one point today before eventually settling up 130 on the May contract. Needless to say, all of this…