Potential Price Increases for Hempseed in 2022

Potential Price Increases for Hempseed in 2022

Hempseed production declined this year for a variety of reasons.  First and foremost was the price of agricultural commodities that are commonly grown in the hempseed belt, like canola, wheat, and pulses.  Mature markets with fewer handling or marketing challenges for most producers, and attractive pricing.

Weather this year was not ideal for hemp – or any other crop – in the parched Northern Plains. Irrigated land yielded adequately in many cases, and earlier crops like wheat were at some advantage on dry land, but not much.  The region came into 2021 in drought conditions, so spring wheat yields also suffered this year. 

The 2021 Spring Wheat Tour, organized by the Wheat Quality Council,

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at 29 bushels/ac.  The average for 2015 to 2019 spring wheat is 43.6 bushels, whereas durum plantings were 24.3…

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Runner market commentary
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Table 2

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