Industrial Hemp for CBD Planning Budget

Editor’s note
The following abstract describes a publication that is only available as a PDF via the “Download this publication” button.

See the Industrial Hemp Budget Generator (downloadable Excel spreadsheet) for related information.

Raymond Massey
Extension Professor, Agricultural Business and Policy
Chase Morrison, Student Assistant


This budget presents information useful to farmers considering industrial hemp production for cannabidiol (CBD). Table 1 presents income and cost estimates for industrial hemp CBD production in Missouri. Assumptions were based on price forecasts as of October 2019. Detailed assumptions are summarized in Tables 2, 3 and 4. Production was assumed to be done on 2.5 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. A sensitivity analysis of this budget is included in Tables 5 and 6. The two tables show how various yields and market prices impact profitability.


  • Crop budget
  • Farm budget
  • Industrial hemp for CBD


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