Corn-Based Ethanol RINs Drop on Outlook Law May Be Adjusted
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The value of certificates that track compliance with a U.S. law to use corn-based ethanol dropped the most since March on speculation Congress will adjust biofuel consumption targets.
Renewable Identification Numbers, or RINs, for ethanol made from corn slumped 21 percent to 99 cents at 4:07 p.m. New York time, the lowest price since June 28 and steepest decline since March 12. The drop came a day after the House of Representatives’ Energy and Commerce Committee held hearings on the Renewable Fuels Standard.