Refiners are betting heavily that the Biden playbook on RINs will be the same one used when he was then vice-president, back in 2015. Like what we are seeing play out in 2021, back in 2015, the EPA and White House faced another troubling situation where RIN prices were at or near all-time highs. Blend wall concerns had forced biodiesel RINs to climb and ethanol RINs to trade near the D4 in price.
Back then, the EPA and White House did not release RVO’s for 2014 and 2015 until December of 2015. The total renewable volume obligations (RVOs) for 2014 were reduced below 2013 and then began to build once again. The advent of granting small refinery exemptions to nearly every refiner that applied began in earnest in 2016 and helped to keep RIN prices at manageable levels through 2020.
In early 2020 RIN blend wall concerns once again began to bubble. Biodiesel RINs…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...