D4 RINs and soy oil prices spike following duty announcement on biodiesel imports

In Illinois, D4 RINs spiked to the year’s high of $1.20 following the news that the Department of Commerce would lob anti-dumping and countervailing duties on biodiesel imports from Argentina and Indonesia, up from $1.11 ahead of the announcement, but they slipped back to $1.15 as the market absorbed the news. Soy oil prices also rose nearly 2% by 0.59 cents at 34.65 cents on Wednesday afternoon while soymeal prices fell to their lowest level in 16 months at $292.00 per ton.