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Renewable identification number (RIN) prices reached their highest levels since 2013, according to a Platts podcast discussion. High corn and soybean oil futures, the key biofuel feedstocks, have supported the market, while uncertainty over U.S. blending requirements remains.
Higher RIN prices raise the cost of blending and increase the value of biofuel feedstocks, supporting demand for soybean oil and corn. Any clarity on blending mandates from Washington could move these prices sharply.
castro.fmFeb 4, 2021After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
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.
