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Analysts believe soybean prices could rise to all-time highs in 2008 as demand for beans as feedstocks for biodiesel and foodstocks for the Chinese take center stage.

This analysis from Reuters says China’s production and irrigation problems are just part of the increased demand for the U.S. crop that, in previous years, had lost ground to corn going to ethanol:

Throw in biofuels demand — specifically, biodiesel made from soyoil — and the soy market has a second wild card of possibly unlimited demand. Another factor is the sinking dollar, which is making dollar-based soybeans cheaper for export.

It is likely that CBOT soyoil will test its record top of 51 cents a lb notched 33 years ago, especially if crude oil — a market that soyoil mirrors given the expanding biodiesel industry — continues its rally.

Chicago Board of Trade January soyoil closed at at 46.58 cents a lb on Wednesday. Traders are concerned about how much of the soybean crop will go to food and how much will go to fuel.

Connecticut, known for its bedroom communities for commuters heading into New York City, has its first station for those commuters wanting to fuel up with biodiesel.

This press release says Governor M. Jodi Rell cut the ribbon on the first public-access retail biodiesel station in Connecticut at the Berkshire Country Store in West Cornwall:

“Today marks a true milestone for our state,” Governor Rell said. “Today, we are expanding access to domestic, renewable energy options for Connecticut residents and businesses.

The Connecticut Department of Transportation has been using a biodiesel blend for six years and commercial fleet owners have had access to a biodiesel station in New Haven for several years. However, until now, biodiesel has not been made available to the public at a Connecticut retail location.

Hale Hill Farm Biofuels will be supplying the biodiesel for the station.

The twinkling Christmas lights glistening off the new fallen white snow this season at the Hershey Lodge in Hershey, Pennsylvania will be powered by a green fuel: biodiesel.

This press release from Hershey’s says the lodge is using a local company to turn its old kitchen grease into biodiesel:

Hershey Lodge will use biodiesel made by recycling its used cooking oil from its four restaurants and convention center to power some of its outdoor lighting this holiday season. The outdoor holiday lights at Hershey Lodge are run on a generator; this year that generator will run on its own biodiesel blended with diesel fuel.

Hershey Lodge is working with local attorney Gary Lysaght, who started a small local biodiesel co-op several years ago to produce off-road biodiesel. Lysaght collects the used cooking oil from Hershey Lodge and converts it to biodiesel through a chemical process. The Lysaght Co-op then returns the biodiesel to the Lodge to be blended with diesel fuel and used in generators and other off-road uses.

Company officials point out that not only is the burning of the fuel better for the environment, it will also keep 3,000 gallons of used cooking oil out of the local landfills.

The Biodiesel Finance & Investment Summit, January 14th-16th, 2008 in New York, NY, will feature Martin Tobias, the president of biodiesel giant Imperium Renewables, as one of three keynote speakers. Joining Tobias will be James W. Eiler, Managing Director, First National Investment Banking and Gene Gebolys, President and CEO of World Energy Alternatives.

The summit’s web site invites those interested to meet “the leading biodiesel developers, investors, lenders and other industry players who are looking to do deals:”

* What the financing market will look like in 2008
* What it will take to get deals successfully made in the market
* What opportunities exist for developers, investors, and lenders to become involved in upcoming deals
* How new developments—such as feedstocks, renewable diesel, and carbon credits—will impact future opportunities

The Biodiesel Finance & Investment Summit has established itself as the major gathering place where biodiesel developers, investors, lenders, EPC contractors and others in the biodiesel finance & investment community come to meet, gauge the current pulse of the deal-making market and share their perspectives on what it will take to get biodiesel deals successfully financed in the current market environment.

Get more information on the agenda and registration by clicking here.

A truck that runs on biodiesel made from waste chocolate and that I featured during a post on November 15th has left England for Timbuktu in Africa.

This update from the Environment News Service says the trip is designed to raise public awareness about biofuels and their potential to ease the impact of climate change:

Andy Pag of London and John Grimshaw of Poole have nicknamed their big Ford Iveco Cargo truck the BioTruck. It will carry their chocolate biodisel fuel and two smaller vehicles for crossing the Sahara Desert.

The group receiving the biofuels processor is Mali-Folkecenter, MFC, which represents the Danish Folkecenter for Renewable Energy.

The team picked Timbuktu, Mali because of the effects climate change has had on the city as it used to be a port on a river. But now, the river has shifted about 10 miles away, leaving Timbuktu even more isolated in the desert. Members are taking a biodiesel processor to Mali, so the Africans have a chance to be energy independent.

Follow the progress of the expedition by clicking here.