Spot ethanol prices slumped on excess supply, while values of tradable ethanol compliance credits rose sharply in active trade this morning.
D6 Renewable Identification Numbers for 2012 traded at 14.25 cents, 15.0 cents and are now being talked at a 15.5 cents to 16.5 cents bid/ask, up 3.0 cents on the session. 2013 RINs were talked in at 17.0 cents to 18.0 cents bid/ask range, up 4.0 cents on the session.
A trade source said RINs were attracting more buyers because they were relatively cheaper than ethanol.
George Orwel can be reached at firstname.lastname@example.org.