Spread Between Sobyean Oil and Heating Oil Prices Could Signal Higer RINs  

Biodiesel RIN values held steady last week while ethanol RINs edged higher.  The 2020 and 2021 biodiesel RINs attempted to push higher on Monday and Tuesday of last week, but price support failed the rest of the week.  Biodiesel RIN prices ended the week at the same price the closed the week prior.  The 2020 and 2021 ethanol RIN prices managed to reach higher ground, finishing the week with marginal gains. 

The price spread between biodiesel and ethanol RINs has narrowed over the prior two-week period.  The spread had widened to 35 cents, indicating the market believed the EPA and White House would step in and provide renewable blending obligation (RVO) relief to obligated parties.  Renewable fuels advocates have been fighting this speculation and have the market questioning whether this relief will be provided.  The…