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Kentucky Agriculture Commissioner Touts Pro-Hemp Message

Ag Commissioner Pushes Industrial Hemp Bill at Lexington Forum

By , Farms.com

Kentucky Agriculture Commissioner, James Cormer has been a strong advocate for removing the restrictions on growing industrial hemp – and in the New Year he continues to tout his pro-hemp message at the Lexington Forum.

While many states have passes pro-hemp legislation, they are overridden by federal drug policy that classifies hemp under psychoactive drugs like Marijuana. Interestingly enough, in the 19th century Kentucky was the nation’s leading hemp producer.

Some of the main arguments in favor of the bill are that farmers would have to be licenced in order to grow industrial hemp and they would be subject to regular inspections by federal officials. If passed, hemp would be another crop that farmers could profit from and would ultimately spur manufacturing jobs for products using hemp.

Growing industrial hemp has a lot of appeal, as it is an annual crop that is easy to grow and relatively inexpensive. The input costs are low, as hemp requires very little fertilizer or insecticides and it grows best in marginal soils.

If the bill passes in the state legislature, more attempts will be made to try and get hemp reclassified at the federal level. Sen. Rand Paul has also been a staunch advocate for industrial hemp and has made several appearances with Comer in recent months. The U.S. is the only industrial country in the world that doesn’t allow industrial hemp to be grown.


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Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.