Industrial Hemp for Grain Planning Budget
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Professor, Agricultural Business and Policy Extension
State Specialist, Agricultural Business and Policy
This guide presents information useful to farmers considering industrial hemp production for grain in the 2021 crop year. Table 1 presents income and cost estimates for industrial hemp grain production in Missouri based on prices in October 2020. Assumptions are summarized in Tables 2 and 3. Assumed production is 40 acres. 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 due to lack of Missouri data and different growing conditions in areas where data has been collected. 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