Farmers rushed into hemp, but now face a glut

Re:Farmers rushed into hemp, but now face a glut by cannaceo on Tuesday December 03, 2019 @10:57AM (#21693433)

It really depends how you approached it. CBD flower from the colas is still selling well even if biomass isn't. CBG biomass is still selling at $200-275/lb. An acre costs about $10k to plant and yields 2,000lb of biomass. Most people lost their shirts because

1) they weren't growing on contract and didn't have buyers lined up 2) didn't grow for smokable flower 3) had their plants herm due to bad seed stock or environmental stress 4) their hemp ran 'hot' with THC over the allowable levels and they live in a state where the AG commissioner cares. Was up in Oregon and the farmers were telling me as long as it's under 2.0% THC they get a pass. In more strict states it's 0.3%.

Source: am a shareholder in a large CBD cultivation/manufacturing business.

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Re:Farmers rushed into hemp, but now face a glut by arkades on Tuesday December 03, 2019 @11:39AM (#21693907)

> In more strict states it's 0.3%.

Just to clarify: <=0.3% is the federal cut-off. it’s protected by the agricultural whatever act of 2018 - the plant itself is legal to cultivate, and its CBD oil derivatives are likewise loosely regulated. Above that it’s considered to be illegal cannabis, and -its- CBD oil derivatives are regulated accordingly.

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Re:Farmers rushed into hemp, but now face a glut by Wheaties466 on Tuesday December 03, 2019 @01:50PM (#21695309)

just to clarify: 2018 United States farm bill

https://en.wikipedia.org/wiki/2018_United_States_farm_bill

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Re:Farmers rushed into hemp, but now face a glut by coderintherye on Tuesday December 03, 2019 @01:59PM (#21695398)

Missed a big one, which is the weather. Oregon had a week of early rain followed by a period of warm, sunny weather. These perfect mold conditions caused it to run rampant and hurt a lot of farms. Source: My company grows hemp in Oregon

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Re:Farmers rushed into hemp, but now face a glut by asdff on Tuesday December 03, 2019 @04:23PM (#21696865)

I figured everyone growing in the PNW would be using hoop houses.

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Re:Farmers rushed into hemp, but now face a glut by hcurtiss on Tuesday December 03, 2019 @12:45PM (#21694613)

Also in Oregon though only tangentially connected to the industry. We’ll see how long the CBG premium lasts. If American farmers are good at anything, it’s oversupplying demand.

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Re:Farmers rushed into hemp, but now face a glut by jermaustin1 on Tuesday December 03, 2019 @02:13PM (#21695559)

> If American farmers are good at anything, it’s oversupplying demand.

And then asking for handouts when they don't make their money back.

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