RINs tried to hold onto gains achieved over the past couple of weeks, showing some strength early on last week. By the time trading ended on Friday, biodiesel RINs had fallen six percent and ethanol RINs closed four percent lower on a week over week basis.
The 2021 biodiesel RIN settled at $1.49½, reaching a closing low not seen since April, while the 2021 ethanol RIN closed at $1.30, matching recent lows from two and three weeks ago. The spread between the two RIN classes remains around 19 cents, indicating a somewhat tight correlation between the two, as blend wall concerns regarding future blending requirements remain for the ethanol RIN.
The D6 ethanol RIN will trade near the D4 biomass-based diesel RIN when blend wall concerns exist regarding the D6. This happens it is believed enough D6 RINs cannot be produced to fulfill the implied ethanol mandate. During 2020,…
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...