EPA to Stop Use of Flubendiamide; February Had Big Gains for MGEX
The EPA is issuing a notice of intent to cancel all Bayer CropScience, LP and Nichino America’s flubendiamide products that pose a risk to aquatic invertebrates that are important to the health of aquatic environments. Required studies showed flubendiamide breaks down into a more highly toxic material that is harmful to species that are an important part of aquatic food chains, especially for fish, and is persistent in the environment. Flubendiamide is registered for use on over 200 crops.
MGEX reports a total volume of 247,562 from February, making it the 4th-best month in the history of the Exchange. This is also the highest February volume total of all-time, up 11 percent from the previous record set in 2011. Electronic volume for the month also finished at 4th-best all-time and set a new February record, coming in at 218,598 contracts traded. The month of February concluded with 14-consecutive days of volume greater than 10,000.