Renewable Diesel Weekly: Key Pricing, Margin, and Production Data for the Week Ended July 17

Research evidence excerpt

Renewable Diesel Weekly: Key Pricing, Margin, and Production Data for the Week Ended July 17

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

20 July 2026

Renewable Diesel Weekly

Key Pricing, Margin, and Production Data for the Week

Ended July 17

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

J.P. Morgan Securities LLC

Industry Update

RIN Generation in June Tracked Light of the RVO, Despite Record-High

Supply from Domestically Produced Renewable Diesel

• Per EPA data, RIN production totaled 2,157MM in June, up from

2,137MM in May (which was revised higher from 2,068MM). In recent

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

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

generation figure (once updated next month) will probably be closer to

2,270MM RINs, which would be the second highest month on record, trailing

only December 2024 (the final month before the Blender’s Tax Credit expired).

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 518MM gallons, the highest total in

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

supply has risen sequentially throughout 2026. Imports of biofuels were the