The fall in RIN prices and talk of a rail embargo into St. Rose, LA were the main topic of conversation in the market today which was absent any widespread trading.
Distiller’s corn oil (DCO) did trader higher out of the Mo. River market early today, up 43.5 cts/lb for good volume and trading was reported as high as 48 cts/lb delivered US Gulf.
Bids were heard lower today into the Gulf and into various interior locations, but without much specificity.
RIN prices were reported higher today, up over 40 cts for the 2024 D4 market, a 3 cent jump from yesterday’s close.
Heating oil prices were higher today as well, helping with the revenue side of the renewable producers margin formula, but pressure remains in the market.
The 2024 D4 RIN market is off 36 percent over the last four weeks, the equivalent of roughly 4.75 – 5 cts/lb of feedstock value.
DCO Production
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US broiler slaughter
Fastmarkets' research team...