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Americas Biodiesel Ethanol US

LCFS rangebound as market settles into new higher range after Friday’s reconfirm

California LCFS discussion slowed in the first trading session after the program was unanimously reconfirmed on Friday, after which bid/offer spreads firmed to new highs of between $70-75.  The CARB expects prices to go as high as $100 when the re-authorized scheme comes into effect in January 2016. Under the existing carbon intensity methodology, the ticket premium for corn oil biodiesel has reached 82 cents/gal, compared with the 48.5 cents settlement price for D4 RINs reached on Monday as physical spot SME prices fell to $2.10/gal. The use of ethanol with a CI value of between 80-85 rose by 48% in the second quarter, when the price premium stemming from much lower ticket prices ranged from 5.7 cents to 8.7 cents/gal.

price graph sep 28

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