D4 RINs seen supporting producer margins through 2021

In New York state, Platts reports multi-year highs for soybean oil that has pressured biodiesel production margins will continue to see D4 RIN prices support producers’ bottom lines. D4 RIN prices for 2020 hit their highest level on Jan. 6 at $1.1475/RIN while soybean oil futures reached at more than seven year high of 44.39 cents/lb on the same day. High feedstock prices have been a key driver for rising RIN prices. Questions over the 2021 blending mandate continue after the Environmental Protection Agency failed to announce the 2021 RVO but D4 levels were already confirmed in 2020 at 2.43 billion gallons.