2014 D4 biomass-based diesel Renewable Identification Numbers, the credits used to comply with annual Renewable Fuel Standard Renewable Volume Obligation, traded at 58.0 cents this morning, a loss of 7.0 cents on the week so far.
"Somebody got caught short and couldn't get out," asserted Jerrod Kitt strategist for the Linn Group, Chicago, Illinois. "Last week's rally was contrived, especially in RINs."
The EPA proposal was left unchanged at 1.28 billion gallons Renewable Volume Obligation for D4 biomass diesel in 2014. The National Biodiesel Board is lobbying for 1.7 billion gallons.
The EPA issued proposed volumes for 2014 on Nov. 15, 2013. This year's mandate was expected to be finalized June 20, but the EPA missed its own deadline last Friday saying it would issue the final mandate "as soon as possible."
Myke Feinman can be reached at email@example.com .
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