Renewable Diesel Weekly: Key Pricing, Margin, and Production Data for the Week Ended June 19

Research evidence excerpt

Renewable Diesel Weekly: Key Pricing, Margin, and Production Data for the Week Ended June 19

J P M O R G A N North America Equity Research

23 June 2026

Renewable Diesel Weekly

Key Pricing, Margin, and Production Data for the Week

Ended June 19

In this weekly note, we include charts and tables that highlight key metrics (e.g., Food Producers & Retailers

ACpricing, margins, production) for tracking the US renewable diesel (RD) industry Thomas Palmer, CFA

and related biodiesel, ethanol and oilseed crush industries. Please contact us for the (1-212) 622-5582

underlying data file. thomas.palmer@jpmorgan.com

Elsa H Evans

(1-212) 622-4922

elsa.evans@jpmchase.comIndustry Update

J.P. Morgan Securities LLC

Per EPA data, RIN production totalled 2,018MM in May, down from

2,068MM in April (which was revised higher from 1,934MM). In recent

months, D3 RIN generation has been initially understated by 100MM+ RINs, and

we believe that this was the case in May. As a result, we think the final RIN

generation figure (once updated next month) will probably be closer to 2,130MM

RINs, which would be the highest non-December monthly total since October

2024. As highlighted below, supply of renewable diesel continues to ramp (though

remains well below stated U.S. production capacity), while both biodiesel and

sustainable aviation fuel supply were more stable month-over-month. Details:

• Biomass-based diesel supply totaled 449MM gallons, the highest total in

any month since December 2024 (572MMg). Monthly biomass-based diesel

supply has risen sequentially throughout 2026. Imports of biofuels remain

depressed at 11MMg total and 30MMg year to date (versus 186MMg in 2025

and 911MMg in 2024). The supply from domestic production was comprised