The RIN market was edging lower ahead of the EPA’s announcement on proposed renewable volume obligations (RVOs). Ethanol RINs closed below 90 cents per RIN December 6, while biodiesel RINs declined to approximately $1.39. Deeper proposed cuts to the previously finalized 2020 RVO and lower obligations for the 2021 and 2022 RVOs might have been what the market was anticipating.
The EPA RVO proposals for 2020, 2021, and 2022 were made public December 7. Both biodiesel and ethanol RIN prices moved higher in response. The 2021 biodiesel and ethanol RINs traded up to $1.49 and $1.06½ respectively during the week, before settling at $1.46 and $0.99¾ on Friday.
Biodiesel RINs climbed five percent and were 47 percent over values seen at this time last year. Ethanol RINs increased 10 percent and closed 46 percent above year ago values….
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Year-to-date commercial cattle production falls 2.30% y-o-y
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US hog slaughter
Fastmarkets research...