Hemp is another step closer to being recognized as a mainstream agricultural commodity with new pricing data being added to the Chicago Mercantile Exchange.
The CME Group, a diverse derivatives marketplace that enables clients to trade futures, options, cash and over-the-counter markets including agricultural products, energy and metals, announced Tuesday that customers can access hemp pricing data in DataMine, its self-service online data platform.
The company’s datasets allow CME DataMine customers to access monthly wholesale hemp pricing data for more than 20 types of hemp products including CBD biomass, crude hemp oil, CBD distillates and isolate, and CBG products.
According to Trey Berre, Global Head of Data Services at CME Group, market participants use historical market data to test strategies and “gauge potential profitability and risks in a variety of different markets.”
“As the U.S. hemp market continues to grow, we expect this benchmark hemp pricing data from Hemp Benchmarks to aid our customers’ trading and hedging strategies,” Berre said.
Hemp Benchmarks CEO Jonathan Rubin said hemp as an emerging commodity has a “broad range of existing applications and health products, textiles, building materials and biofuels,” and that the company’s data offers a “comprehensive and transparent view of wholesale pricing.”
