RINs Edge Higher Even as BOHO Spread Eases

**Please Note – Bob Lane was out of the office today and will return on December 23.**

The RIN market continued to climb on Monday, extending gains that were made after the EPA announced proposed RVOs on December 7. Ethanol RINs closed at levels just below $1.00 per RIN on December 20, while biodiesel B20 and B21 RINs ended in a range from $1.60 to $1.65 per RIN. The market had anticipated deeper proposed cuts to the previously finalized 2020 RVOs and lower obligations for the 2021 and 2022 RVOs.

RINs prices were also up alongside an uptick in the bean oil/heating oil spread (BOHO). When the spread rises, RIN values typically increase to offset the higher  costs. Since the middle of last week, the BOHO spread had been…