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Americas Biodiesel Ethanol US

LCFS holds value, credits up 24% in September

Fair value in the California LCFS credits market held mid-market value at $65.50 on Friday, keeping the market $1.50 higher than at the end of the previous week. While marginal bids sat steady at $64, sellers pulled back to $68 in expectation that California will reconfirm the LCFS scheme next week. Prices so far this month have average $64.77, a rise of 24% relative to August. Despite a widening D5/D6 RIn spread to 12.25 cents as well as further slippage in the Real Brazilian ethanol is still seen as unworkable into the US with September exports down nearly 4% MoM. Chinese buyers have snapped up 90,000/m3 of spot Brazilian fuel ethanol as oil marketers turn to cheaper imports to supply provincial E10 mandates given high Chinese corn prices.sep 18 price graph

brazil arb

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