Seeking Alpha

RIN prices surge after Trump reportedly reaches biofuels deal

|About: Archer-Daniels-Midland Company (ADM)|By:, SA News Editor

U.S. biofuel credits jumped ~10% today following a report that Pres. Trump tentatively agreed to a biofuel reform deal.

Ethanol D6 credits for 2019 traded at 20 cents each on Friday, up from 18.25 cents apiece on Thursday.

Traders say D6 credits traded at 18.50 cents/RIN before the report and were assessed at 20.25 cents/RIN at the end of the session, up 2 cents/RIN from Thursday levels, S&P Global Platts reports.

The Trump administration reportedly agreed to boost the biofuels sector by reallocating three years of waived biofuel blending quotas beginning in 2020.

Potentially relevant tickers include ADM, GPRE, GPP, VLO, PSX, MPC, PEIX, REGI, ANDE, REX


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