RINs at 1.50, Negative Crush, and Paranaguá Premiums Near Minus 1000
D4 RINs traded at 1.502 for Dec26, up 1.62 percent, yet the March biodiesel screen crush moved further negative to minus 9 cents per gallon. That divergence defines the current market. Your screen crush excludes LCFS and 45Z, but even when you layer those in, the uplift is limited relative to the old BTC structure.
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