The U.S. Cannabis Spot Index increased 0.1% to $1,013 per pound.
In grams, the Spot price was $2.23.
Wholesale prices for indoor grown flower saw a minor decrease this week, with outdoor grown flower experiencing the largest movement, declining 2.7%
Hemp flower grown for high CBD concentrations is taking the backseat to hemp flower cultivated for high concentrations of THCa, which when smoked or vaped, is converted into delta-9 THC. This new variation of smokable hemp flower is building a customer base, notably in states without legal cannabis markets.
We will continue to monitor this development to further understand the impacts of legal gray areas for hemp-derived products competing with legal cannabis products.
September 2024 Implied Forward initially assessed at $1,035 per pound.
At $1,045 per pound, the April Implied Forward represents a premium of 3.2% relative to the current U.S. Spot Price of $1,013 per pound.
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