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Soybean price jump fueled by biodiesel

The alternative-fuel revolution is driving prices of another energy-producing crop to near-record levels, according to USA Today.

Soybean prices are expected to hit their second-highest average mark ever this year — and highest since 1983, says the Agriculture Department. Soybeans are used to make biodiesel fuel.

Production of biodiesel, a renewable alternative to diesel fuel, has increased more than 1,200% in the past three years, showing how the nation's truckers are being drawn into the alternative-fuels frenzy along with the auto industry.

Posted by Peter C. T. Elsworth  at 9:30 AM to Alternative fuels , Environment | Permalink

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