Industrial Hemp for Grain Planning Budget
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Extension Professor, Agricultural Business and Policy
Chase Morrison, Student Assistant
This budget presents information useful to farmers considering industrial hemp production for grain. Table 1 presents income and cost estimates for industrial hemp grain production in Missouri. Assumptions were based on price forecasts as of October 2019. Detailed assumptions are summarized in Tables 2 and 3. Production was assumed to be done on 40 acres. Hemp has not been produced in Missouri for decades. Several assumptions used in this budget are from states such as Kentucky, Tennessee, and North Dakota that have recently grown hemp. Farmers should understand that these assumptions may not fit Missouri production. A sensitivity analysis showing the impact on profit of various yields and market prices is included in Table 4.
- Crop budget
- Farm budget
- Industrial hemp for grain