Yesterday’s Hemp Bulletin commentary emphasized the importance of professional agricultural services that have enabled the hemp sector to normalize. Professional accounting, legal, and insurance services have also pivoted to accommodate hemp and cannabis operators. Hemp and cannabis make an attractive marketing segment for many general services companies. Some local banks and credit unions have done this, but overall, banks are keeping their distance from hemp operators.
In 2019, financial institutions casually notified many long-time clients that their accounts were being closed. Elavon, the merchant services provider that is a subsidiary of US Bank Corp, led the carnage in spring of 2019, giving customers ~6 weeks to find an alternative. Our understanding of this sudden pivot was that lax oversight and dated risk management policies allowed for a…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...