Edward Woodford, CEO of Seed CX, presented at the inaugural Science of Industrial Hemp Conference in Denver, Colorado last month. Hosted by the Crop Science Society of America and the American Society of Agronomy, the event saw academics from Purdue University, Colorado State University, the USDA-ARS and University of Kentucky highlight developments in the cultivation of industrial hemp.
Commencing with an introduction by the Colorado Agricultural Commissioner, Don Brown, the goal of the conference was to bring together the country’s leading hemp industry experts to help define a research agenda to advance the scientific knowledge and overall understanding of the industrial hemp market.
Dr. Ernest Small, of Agriculture and Agri-Food Canada, spoke about the huge potential for industrial hemp, but for considerable volatility in hemp prices. Dr. David Williams of University Kentucky stated that CBD prices were “not sustainable” at current levels. Confirming that 50% of Kentucky’s hemp acreage is currently for CBD production, he expressed optimism that CBD production could be optimized with tobacco production methods, including transplant production in greenhouses, space-planting with tobacco setters and manual crop management.
Mr Woodford closed the conference with a sensitivity analysis of the impact of changing prices, acreage and yields. Woodford presented a market sizing analysis of the deliverable supply in the United States utilizing US International Trade Commission (USITC) data and for the first time, incorporating information ascertained through Freedom of Information requests. Mr Woodford coined the term the ‘acreage funnel’ to describe the amount of acreage harvested compared to that which is approved by the appropriate agricultural regulatory agency. Mr Woodford noted that the value of U.S. production of CBD alone was over $300 million in 2015.
Sean Murphy of the Hemp Business Journal, said that “Edward speaks about the hemp industry in a completely new way. The work he leads at Seed CX is important for the long term growth of the hemp industry.”
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About Seed Commodities Exchange (Seed CX)
Seed CX offers a trading platform that is awaiting regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC). Seed CX’s goal is to use the tools of financial engineering to cultivate financial security in underserved markets, where there exists unique idiosyncratic risk. Seed’s focus is on providing innovative means to secure operational stability for hedgers and new investment opportunities.
Edward Woodford and Brian Liston founded Seed CX. Seed CX is backed by a consortium of Fin-Tech focused venture capital firms and strategic partners including proprietary trading firms and farming groups. Dr Wayne Marr, Ph.D. And Marc Vial sit on the Seed CX board as independent directors.
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