CME to launch RIN contract by end of May

In Illinois, the Chicago Mercantile Exchange is planning to launch a contract for RINs by the end of May due to the increased attention in the market recently. RINs based on corn ethanol are currently hovering around 75 cents after coming off of record highs of more than a dollar each, while RINs for advanced biofuels are going for about 83 cents at the moment. There are about 2.1 billion RINs that were carried over from 2012 while the expected demand for 2013 is 2.6 billion.