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D4 RIN prices have fallen 72.3% since January 2023, reaching 51.5 cents on January 29, the lowest since May 2020, because biomass-based diesel output exceeds the 2023 mandate by about 1.2 billion gallons. Market sources expect prices to fall toward 30-35 cents, the biodiesel breakeven level.
Lower RIN values reduce the subsidy for soybean oil as a biofuel feedstock, weighing on soybean oil prices and crush margins.
spglobal.comFeb 1, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
