U.S. cash biodiesel prices eased 2.0cts early Monday in thin trade following a 6.0cts loss last week on declining ULSD futures.
"It's been very, very quiet. There's just no conversation about," biodiesel, said Jerrod Kitt this morning, strategist for the Linn Group, Chicago, Illinois.
"We're not seeing much," one broker said. "Very quiet," a trader echoed.
Demand is waning as biodiesel production nears the proposed 2014 blending target of 1.28 billion gallons, industry sources said. Domestic production and imports for D4 biomass-based diesel through August were 14% below mandate at 1.106 billion gallons, after production dropped 22% in August to ...