Industrial Hemp for Grain and Fiber Planning Budget

Editor’s note
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See the Industrial Hemp Budget Generator (XLSX) for related information.

Raymond Massey
Professor, Agricultural Business and Policy Extension
Joe Horner
State Specialist, Agricultural Business and Policy Extension


This guide presents information useful to farmers considering industrial hemp production for grain and fiber in the 2021 crop year. Table 1 presents income and cost estimates for industrial hemp grain and fiber production in Missouri based on prices in October 2020. Information from Missouri and other hemp growing states have been used to develop this budget and production assumptions used in this budget may not describe all production activities. Assumptions are summarized in Tables 2 and 3. Assumed production is 40 acres. A sensitivity analysis showing the impact on profit of various yield and price combinations for grain is included in Table 4. Table 5 presents a sensitivity analysis of various yields for both fiber and grain assuming known prices for each.


  • Crop budget
  • Farm budget
  • Industrial hemp for grain and fiber


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