No one will be surprised to learn that the price of CBD-hemp has stayed in the basement, resisting any pull upward as the industry works through the 2019 crop inventory while new harvest beckons in the not too distant future. According to its June Hemp: Benchmarks and Analysis, the spot commodities trading platform PanXchange says it expects the new crop to be about the same size as last year’s supply.
During periods of low oil prices, industry players commonly perform “look back” exercises to lower their costs and optimize their supply chain to come out stronger on the other side of a downturn. Since one of the largest cost components for the upstream oil and gas supply chain is frac sand, this is a great place to start.
The incoming maize grain from Mexico is still being held at the Port of Mombasa due to authorities awaiting confirmation on the tax relief from the government. The white maize tax relief was reduced to 35% while the yellow maize tax relief was reduced to 10%.
This webinar featured Julie Lerner, Kim Harris, and Bob Hoban all accredited professional and business leaders in the hemp and cannabis industry. The speakers will discuss forward selling hemp in an oversupplied market, covering all aspects such as avoiding the risks of fixed-price transactions, types of crop insurance available and requirements to prove sales contracts, and legal issues regarding contract terms and other forward selling issues. A Q&A will follow. A must watch for the hemp industry.
Investors looking for a cannabis investment with less risk than the THC market have been snapping up hemp investments.
But with falling crop prices, regulatory uncertainty, and a pandemic that has put the brakes on retail sales, it’s become a foggy picture for investors.
The maize price in Kenya has reduced to KES 3,100 per 90 kg bag in the Nairobi area due to fear of high aflatoxin levels in cheaper maize and as a result millers have rejected a number of parcels. This has seen a lower demand maize flour even after millers have reduced the retail price for consumers.
On each Friday following the distribution of PanXchange® Hemp: Benchmarks & Analysis, the Hemp team will be hosting an online webinar to discuss industry trends such as our regional pricing benchmarks, market commentary, supply and demand analysis, and other recent content. This webinar is intended to give our subscribers the opportunity to connect with the PanXchange team to ask questions and discuss topics in an open format. This is a new service exclusive to only PanXchange platform participants and data subscribers – at no additional cost.
In North Dakota, a used Caterpillar Oil swabbing rig which would cost over $500,000 new was sold for $27,500 (a 95% discount) in just 51 seconds during a live online auction for oilfield equipment in early June.
Driving north on i75, from Tampa to Tallahassee, is what some consider to be a boring drive. Views solely consist of miles and miles of flat pastured lands, with a few barns sprinkled in there as well. If you are looking closely enough, you will notice a sign that reads “Now Entering Marion County – Horse Capital of the World.” More specifically, it is the town of Ocala, Florida – which is considered to be the horse capital of the world. Home to over 600 thorough-bred horse farms, as well as the official training site of the US Equestrian Team. Both Ocala and the state of Florida, command a great deal of respect in the horse world.
We caught up with RJ Hopp, Director of Hemp Markets at PanXchange once again to talk about the wild, wild, west of the hemp market during a pandemic. RJ also discusses how PanXchange is helping hemp farmers in Washington, lobbying for inclusion in the Coronavirus Food Assistance Program. Plus, we talk about the current seasonal conditions across the US.