It’s the first harvest season since the 2018 U.S. Farm Bill was signed into law — and hemp farmers, investors and analysts are working the fields and crunching the data, working diligently to better understand the potential of the plant that was federally legalized through its passage.And while those experts are saying that the biggest lessons are yet to be learned, the fundamentals of a fledgling market are beginning to fall into place in the first state to fully regulate the plant and its intoxicating cousin, marijuana.
After years of falling crop prices, some farmers see a lifeline in hemp.Thanks to recent changes in federal legislation, hemp, while still minuscule as a share of U.S. agricultural production, may offer growers outsize profits compared with more traditional crops.
DENVER, Oct. 3 (UPI) — A glut of CBD oil on the market, severe weather and a complex harvesting process will make this year’s first mass hemp crop in 80 years in the United States a disappointment for many farmers. As harvest season winds down and winter frosts threaten the northern United States, hemp is proving to be a complicated plant for farmers to harvest and process. Buyers for the crop are tapped out, which is driving prices down, industry observers say.
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