# U.S. biofuel credit prices hit 3-year low, expected to stay weak, EIA says

> The EIA said U.S. biomass-based diesel and ethanol RIN credit prices have fallen to three-year lows on lower feedstock costs, and expects them to stay weak as renewable diesel output rises. Declining soybean oil prices are the main driver, with Brazilian export pressure and rising global soy stocks also cited.

- Date: 2024-02-28 · published 2024-02-28T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/31768-u-s-biofuel-credit-prices-hit-3-year-low-expected-to-stay-weak-eia-says
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weak RINs reduce the incentive to produce biofuels, which cuts a key source of soybean oil demand and keeps pressure on soyoil and soybean crush-related prices. Lower soyoil values also weigh on the meal-and-oil crush margin.

## Read by commodity

- SBM: neutral
- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-05-04 | [United States biofuel credit prices hit 3-year low, anticipated to stay weak, EIA says](https://feedsoft.ai/events/30344-united-states-biofuel-credit-prices-hit-3-year-low-anticipated-to-stay-weak-eia.md) | +2.3% | +8.3% |
| SBO | 2025-03-31 | [Soybeans Weaker as USDA Confirms Drop to Expected Acres](https://feedsoft.ai/events/25612-soybeans-weaker-as-usda-confirms-drop-to-expected-acres.md) | +3.5% | +11.6% |
| SBO | 2025-01-02 | [Fitch Expects CPO Prices to Weaken in 2025 Amid Improved Yield, Higher Soybean Output - MPOC](https://feedsoft.ai/events/5049-fitch-expects-cpo-prices-to-weaken-in-2025-amid-improved-yield-higher-soybean.md) | -0.6% | +10.7% |
| SBO | 2023-04-14 | [EU sunflower-seed output set to hit record level this year](https://feedsoft.ai/events/36521-eu-sunflower-seed-output-set-to-hit-record-level-this-year.md) | +1.0% | -3.8% |
| SBO | 2018-02-07 | [Oil prices tank as US crude and fuel stockpiles jump](https://feedsoft.ai/events/11357-oil-prices-tank-as-us-crude-and-fuel-stockpiles-jump.md) | -4.8% | -3.7% |
| SBM | 2025-02-28 | [Prices face pressure as larger U.S. crops expected this year \| The Western Producer](https://feedsoft.ai/events/26080-prices-face-pressure-as-larger-u-s-crops-expected-this-year-the-western-producer.md) | +1.7% | +1.5% |
| SBM | 2023-01-17 | [Global fish oil and meal prices expected to ease from last year’s…](https://feedsoft.ai/events/37881-global-fish-oil-and-meal-prices-expected-to-ease-from-last-year-s.md) | -8.4% | -1.6% |
| SBM | 2019-05-23 | [Pork producers expected to respond to high international prices](https://feedsoft.ai/events/59213-pork-producers-expected-to-respond-to-high-international-prices.md) | +9.8% | +8.3% |

## Sources

- hydrocarbonprocessing.com: https://www.hydrocarbonprocessing.com/news/2024/02/us-biofuel-credit-prices-hit-3-year-low-expected-to-stay-weak-eia-says/

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