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An American Farm Bureau Federation market note explains how Renewable Identification Numbers are generated and priced under the Renewable Fuel Standard. It warns that proposed changes such as RIN multipliers, RIN price caps and no retirement on export would weaken the program.
It notes recent reports that biofuel policy changes are on hold.
The RFS volume mandate and RIN prices set the demand for biofuel feedstocks, so changes to the program affect soybean oil and corn demand. This piece is an advocacy overview rather than a new policy decision.
hpj.comHPJ StaffMay 18, 2018After 1,419 past policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), 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.
