The 2021 hemp growing season is approaching swiftly, except in Florida, or other frost-free locations where some cultivation is ongoing. Field work for major crops is well underway in the south, but the Southern Plains are still assessing damage to wheat crops or citrus in far southern areas. High commodity prices that have climbed steeply in recent months don’t exist in a vacuum and will have some impact on hemp planting acreage, and as we discussed in Friday’s bulletins, hemp prices. Hempseed prices have strengthened some as crushers look to compete with attractive pricing for corn, soybeans, and even wheat. Many crops have been buoyed in this rally.
High soybean prices increase competition for ground with other crops like cotton, which some analysts believe could contract some in 2021. This won’t have any meaningful impact on the emerging fiber segment, but in the future, high soybean…
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