# Feature: US RINs complex under pressure while renewable diesel helps RVO mandates | S&P Global

> D4 RIN prices fell 53.4% in 2023 and hit 79.50 cents on Nov. 7, their lowest since 2020. Domestic D4 biomass-based diesel production surpassed the 2.82 billion gallon 2023 mandate, helped by renewable diesel growth and a narrow BO-HO spread.

- Date: 2023-11-20 · published 2023-11-20T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15261-feature-us-rins-complex-under-pressure-while-renewable-diesel-helps-rvo
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Surplus D4 supply and falling RIN values reduce the blending incentive, weakening soybean oil demand from biofuel producers. The D6 shortfall partly supports D4 demand, limiting further declines.

## Read by commodity

- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2023-06-29 | [U.S. renewable fuel mandate muddies demand outlook - Manitoba Co-operator](https://feedsoft.ai/events/35587-u-s-renewable-fuel-mandate-muddies-demand-outlook-manitoba-co-operator.md) | +8.3% | +13.9% |
| SBO | 2024-05-13 | [Renewable diesel glut hits US refiner profits, threatens nascent industry \| Reuters](https://feedsoft.ai/events/15212-renewable-diesel-glut-hits-us-refiner-profits-threatens-nascent-industry-reuters.md) | +3.4% | +4.2% |
| SBO | 2019-06-25 | [NBB: SREs are harming demand for biodiesel, renewable diesel \| Biomass Magazine](https://feedsoft.ai/events/58473-nbb-sres-are-harming-demand-for-biodiesel-renewable-diesel-biomass-magazine.md) | -1.3% | -1.2% |
| SBO | 2023-10-27 | [D4 Production, Renewable Diesel, and RINs - The Jacobsen](https://feedsoft.ai/events/15269-d4-production-renewable-diesel-and-rins-the-jacobsen.md) | -0.7% | +6.4% |
| SBO | 2023-10-25 | [Rabobank: Renewable diesel supply glut weighs on soybean prices \| Feed & Grain](https://feedsoft.ai/events/15266-rabobank-renewable-diesel-supply-glut-weighs-on-soybean-prices-feed-and-grain.md) | +0.6% | +9.0% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/112023-us-rins-complex-under-pressure-while-renewable-diesel-helps-rvo-mandates

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