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California LCFS trades higher, increasing West Coast allure for Midwest biodiesel

California LCFS credits edged back up to $65 as a biofuel marketer traded at that price for 1kt on Tuesday, gaining $1.50 from indicative values seen in thin discussion immediately before the long weekend. Sell side indications on Tuesday otherwise pulled back into the high-$60s with a best offer of $67, while buyers plied a flat range between $60-63. Current prices remain attractive to biodiesel players looking to move Midwest biodiesel to California as RINs prices continue to test new lows, damaging biodiesel economics in the rest of the country. The price of D4 biodiesel RINs lost one penny per credit on Tuesday while the D5/D6 spread narrowed to less than 8 cents/gal.

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