RINs Close at All-Time Highs
The price of renewable identification number (RIN) credits used for compliance purposes in the Renewable Fuel Standard (RFS) reached historic highs and are currently trading at their highest level in program history. Biodiesel RINs broke through the $2 dollar barrier with the 2021 D4 RIN closing $3.25 higher at $2.02¾ per RIN. Ethanol D6 RINs continue to trade in a very tight range to the D4. The 2021 D6 RIN settled $2.25 higher at $1.96½.
Ethanol RINs are shadowing Biomass-based diesel RINs, which are a ceiling for D6 price exposure. When there are blend wall concerns regarding meeting the conventional ethanol mandate, D4 RINs become the next marginal gallon to be used in order to meet overall compliance. When this happens, any perceived shortfall in the…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...