Organic hemp prices have stabilized in 2020 after falling in 2019 in tandem with conventional hemp seed prices as demand collapsed. The perceived demand never really materialized as CBD consumption did not explode and has yet to keep up with production.
In the wake of the US 2018 Farm Bill, Hemp became legal, which led to a supply glut that has weighed heavily on prices. The Jacobsen has been tracking Hemp prices including organic hemp prices since 2019 and has seen a cratering of prices as farmers estimated short-term demand incorrectly. As the shakeout unfolds the industry will be looking for another outlet that could allow agriculture to sell hemp products outside CBD, textiles, and clothing.
It appears that a US group is seeking approval of hemp seed meal for chickens. There are several hurdles including the approval that is still needed to use hemp products for animal feed in the US. The Hemp Feed Coalition which is the organization applying,…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...