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The U.S. Geological Survey predicts that the earthquake in Venezuela could cause significant casualties and widespread damage.June 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed lower on Wednesday, with the benchmark contract down 0.7%, marking the third decline in the past four trading days. This was mainly due to the plunge in international crude oil futures, with speculative funds continuing to sell. International crude oil fell by more than $3 per ton on Wednesday, closing at its lowest level in four months, as market concerns about supply eased as more tankers left the Strait of Hormuz. Soybean futures are typically influenced by crude oil movements because soybeans are a key feedstock for biofuel production. Generally favorable weather conditions in the U.S. Midwest, which are conducive to early crop growth, continued to weigh on the soybean market and encouraged speculative funds to continue selling.On June 25th, according to foreign media reports, soybean meal futures on the Chicago Board of Trade (CBOT) closed mixed on Wednesday, with the benchmark contract closing down 0.4%, following the downward trend in neighboring soybean and soybean oil markets. Favorable weather conditions in U.S. soybean producing regions and a clear production outlook continued to pressure the soybean and soybean product markets. The sharp drop in international crude oil futures also negatively impacted the soybean and soybean product markets. The U.S. Department of Agriculture will release its weekly export sales report on Thursday. Analysts expect net U.S. soybean meal export sales for the week ending June 18, 2026, to be between 200,000 and 550,000 tons. In comparison, the previous weeks net sales for U.S. soybean meal in the 2025/26 marketing year were 283,900 tons, and net sales for the 2026/27 marketing year were 120,200 tons.June 25 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed lower on Wednesday, with the benchmark contract down 1.3%, following the downward trend in the international crude oil market. Crude oil prices fell by more than $3, reaching levels seen before the Iran-Iraq War, as supply concerns eased as more tankers stranded in the Strait of Hormuz departed. U.S. crude oil futures prices fell below $70 per barrel, hitting their lowest level since March 2. The soybean oil futures market typically follows crude oil trends because soybean oil is a feedstock for biofuels.June 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed slightly lower on Wednesday, with the benchmark contract down 0.6%, mainly reflecting the plunge in international crude oil futures and generally favorable weather conditions in the Corn Belt. As tensions in the Middle East eased, more oil tankers left the Strait of Hormuz, causing international crude oil prices to fall further to their lowest level in four months. This put downward pressure on the corn market. Corn is a key raw material for bioethanol production. In recent weeks, speculative funds have been significantly reducing their large net long positions in CBOT corn futures, exacerbating the decline in corn prices. However, recent strong US corn export sales have provided a floor for the corn market.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.