USDA launches new insurance option for hemp

January 6, 2020 |

In Washington, the U.S. Department of Agriculture has established a new crop insurance option for hemp growers in select counties of 21 states in 2020. The insurance program will provide Actual Production History (APH) coverage under 508(h) Multi-Peril Crop Insurance (MPCI). The MPCI coverage is for hemp grown for grain, fiber, and CBD oil for the 2020 crop year. This offering comes in addition to the Whole-Farm Revenue Protection coverage program available to hemp growers that was announced earlier this year.

In Illinois, Argus is reporting that increased ethanol production levels in the United States could stymie efforts to increase refining margins. The outlet also cited concerns about trade barriers re-emerging a a cap on export demand, as well. Data shows that declines in ethanol production from refinery shutdowns, coupled with falling crop prices after new USDA data showed higher than expected corn production, had boosted crush margins to $0.28 per bushel by November, up from $0.18 per bushel in September, as ethanol inventories fells. Observers were pointing to signs that ethanol production is beginning to creep back up — without corresponding increases in domestic or foreign demand.

Category: Fuels

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