Thirst for ‘Green’ Fuels Propels U.S. Soyoil

Chicago, Illinois [Reuters] Soyoil, traditionally one of the less-traded products on the 158-year-old Chicago Board of Trade, is scaling new heights as investors bet on “green” fuels amid soaring crude oil prices. While corn and sugar are used to produce the alternative fuel ethanol, about 90 percent of U.S. biodiesel is derived from soyoil, a byproduct of crushing soybeans into animal feed. Soyoil futures at the Chicago Board of Trade, the world’s largest grain exchange, hit a nine-month high of 26.12 cents a lb in late April. …
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