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Hemp Enters Growing Season Against Backdrop of Moribund Prices
John Lothian News
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.
Planting of CBD hemp often begins indoors under highly controlled conditions that are favorable for either seed germination or propagation by cloning. Growing conditions in the U.S. are forecasted to be very positive for hemp. PanXchange’s most recent hemp report indicates that they expect the number of planted acres in the U.S. to fall although the number of farmers licensed to grow hemp has increased by more than 25%.