The average price of CBD isolate in the U.S remained steady throughout May and was up just 2 percent from lows seen in February 2021.
In the U.S., documented acreage licensed for production is down 44 percent YOY as growers are opting to plant more profitable crops, per Hemp Benchmarks. Lower hemp production in 2021 may add support to U.S. prices.
In Canada, however, hemp production is expected to increase 15 to 20 percent vs. 2020, and conventional and organic wholesale prices are up notably.
Soil temperature in most hemp-producing regions were warm enough in April for planting to begin. Like corn, hemp is a seasonal crop, so the April to June planting window is ideal when soil temperatures are above 50 degrees Fahrenheit.