# US RINs complex collapses in 2023/24, driven by oversupplied biomass-based diesel market

> 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.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/15238-us-rins-complex-collapses-in-2023-24-driven-by-oversupplied-biomass-based
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower RIN values reduce the subsidy for soybean oil as a biofuel feedstock, weighing on soybean oil prices and crush margins.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/020124-us-rins-complex-collapses-in-2023-driven-by-oversupplied-biomass-based-diesel-market

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.