The Second Annual Kentucky Hemp Industries Association (KYHIA) Conference was held Tuesday March 22, 2016 at the E.S. Good Barn on the University of Kentucky (UK) campus. Edward Woodford from Seed CX spoke to a group of hundred-fifty hemp researchers, farmers and processors about the risk mitigation tools that Seed has constructed.
The KYHIA is the premier hemp industry association in the Commonwealth, whose mission it is to represent the interests of the Kentucky hemp industry by encouraging research and development. After the event, Seed CX was voted onto the Board of the KYHIA by its members.
Speakers included Kentucky’s Agricultural Commissioner who re-affirmed support Ryan Quarles: “The hope is that in addition to having plenty of farmers growing for the myriad of uses for hemp, we can attract processors and manufacturers who will buy and process Kentucky hemp, right here in in our state.” Edward Woodford noted the “domino effect” of derivatives trading noting that many processors have offered forward contracts to farmers, but are completely unhedged as a result. “If a processor guarantees a price of $0.70 a pound of hemp seed, but the price at harvest of meal and oil combined is $0.50, the processor is out of pocket. The processor can only furnish farmers with stability if they have some degree of stability.” Edward noted the storage capability of Canadian farmers and the evolving classification of CBD in Canada as potential drivers of volatility in the market.
After Edward’s presentation, Josh Hendrix, who is the founding President of the Kentucky chapter of the Hemp Industries Association (KYHIA) and is the Director of Domestic Business Development for CV Sciences, commented that “growing hemp represents so much opportunity for Kentucky and the United States. From the farmer to the consumer there is an abundance of infrastructure that needs to be put in place and creating opportunities for jobs in an industry that also supports family farms is the backbone of our economy. To really do that, you need people like Seed CX to drive the market and push the industry forward in a way that actually puts us on the map when you talk about the global supply chain and as the industry grows, I think you will see them as one of the biggest assets to the industry that we have.”
About the KYHIA
The mission of the KYHIA is to represent the hemp industry and to encourage research and development of hemp products throughout the bluegrass state.
For more information, visit KYHIA.org
About CV Sciences
CV Sciences (OTCMKTS: CANV), located in Las Vegas, Nevada, focuses on drug development activities on products containing the hemp plant extract cannabidiol (CBD) as the active pharmaceutical ingredient. CV Sciences is also engaged in the development, marketing and sale of end consumer products containing CBD. For more information, visit PlusCBDOil.com
Edward Woodford, CEO
US Tel: +1(617) 803-8643
UK Tel: +44 (0) 7896213638
Email: [email protected]
About Seed SEF
Seed SEF is an institutional trading platform that is awaiting regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC). A Swap Execution Facility (SEF) allows the trading of forwards, swaps and options for Eligible Contract Participants (ECPs). Seed operates a non-intermediated model which means that each participants connects directly to the exchange. Edward Woodford and Brian Liston founded Seed as Graduate researchers at the Massachusetts Institute of Technology (MIT). Seed SEF is backed by a consortium of farming groups and exchange liquidity providers.
Seed CX Chairs the Outreach and Finance Committees of the Kentucky Hemp Industry Council (KHIC), which focuses on policy development at a state and federal level.
Seed CX’s goal is to use derivative tools to cultivate financial security in emerging agricultural markets, with idiosyncratic production risks. Seed’s focus is on providing innovative means to secure operational stability for hedgers and new trading opportunities for speculators. Seed CX operates in areas where there have been recent regulatory shifts, which present the potential to innovate in new or obscure markets.
Edward Woodford and Brian Liston co-founded Seed CX. Seed CX is backed by a consortium of Fin-Tech focused venture capital firms and strategic partners including trading firms and farming groups. Dr Wayne Marr, Ph.D. And Marc Vial sit on the Seed CX board as independent directors.
For more information, visit www.seedcx.com