Farms.com Home   Ag Industry News

Industrial hemp may soon be grown in South Dakota

Bill is now heading to the Senate for review and consideration

By Diego Flammini
Assistant Editor, North American Content
Farms.com

Farmers in South Dakota could soon be legally allowed to grow industrial hemp.

South Dakota’s House of Representatives voted 57-11 in favor of a bill that would allow industrial hemp to be cultivated.

The bill will now head to the Senate for deliberation.

The bill’s main House sponsor, Mike Verchio, says allowing farmers to grow industrial hemp can help with economic development and job creation.

If approved, farmers can apply to the state Department of Agriculture to grow industrial hemp – provided they pass background checks; earlier in February, North Dakota state Agriculture Commissioner Doug Goehring chose three farms to test if industrial hemp can be successfully grown.

For those concerned about hemp’s close link to marijuana, Verchio said the South Dakota bill restricts the amount of THC – the main ingredient responsible for marijuana’s effects.

“Upon meeting the requirements of sections 2 to 6 inclusive, of this Act, any person in this state may plant, grow, harvest, possess, process, sell, and buy industrial hemp (cannabis sativa l.) having no more than three-tenths of one percent tetrahydrocannabinol,” part of the bill reads.

According to the National Conference of State Legislatures, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Indiana, Kentucky, Maine, Maryland, Michigan, Montana, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Oklahoma, Oregon, South Carolina, Tennessee, Utah, Virginia, Vermont, Washington and West Virginia allow for hemp to be grown for either commercial or research use.


Trending Video

U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!