The 2014 D4 biomass-based diesel Renewable Identification Numbers, the credits used by refiners, blenders and importers to show compliance with annual blending mandates, gained in value as 2014 D6 renewable fuel RINs were boosted by bullish supply data released Wednesday.
"What I see is that ethanol production was lower yesterday so ethanol RINs went up and pushed up D4s on back of it," a trader said this morning.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT T
More Recommended for You
Recommended for You
The Energy Information Administration reported U.S. ethanol production tumbled 5.5% to 868,000 bpd during the week-ended Jan. 10 while demand increased 5.4% to 797,000 bpd.
2014 D6 RINs, primarily satisfied with corn-based ethanol, gained 0.75 cents this morning, trading at 30.75 cents. 2014 D4 RINs traded late Wednesday at 46.0 cents and 47.0 cents, up 3.25 cents on the session, talked this morning at 45.0 cents to 48.0 cents, up 0.5 cents.
Myke Feinman can be reached at email@example.com
© Copyright 2014 DTN/The Progressive Farmer. All rights reserved.