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HEMP HYPE. HIGHER PRICES LATER.
CNBC "Fast Money" about to cover "Cannabis News" after commercial break...
Probably Farm Bill...
Anyone think they should name a CBD strain after Bruce... call it "King Spruce"?
LOL
WATCH---HEMP INC GROWING, PROCESSING, & SHIPPING HEMP
https://www.facebook.com/KingOfPot/videos/10216330020819601/
https://www.facebook.com/KingOfPot/videos/pcb.10216154785518828/10216154816239596/?type=3&theater
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White House won’t stop farm bill over forestry
-The Hagstrom Report
November 30, 2018
President Donald Trump won't stop the farm bill over forestry issues and will instead direct Agriculture Secretary Sonny Perdue to use all his powers to suppress forest fires, a knowledgeable source told The Hagstrom Report Thursday evening.
Even though Perdue and Interior Secretary Ryan Zinke said that the final farm bill should include provisions in the House-passed version to increase government agencies' authority to clear forest floors and thin trees, the White House will not insist on those provisions because Senate Majority Leader Mitch McConnell, R-Ky., is not interested in making forestry a defining issue in the bill, the source said.
The Hagstrom Report was made aware of the White House position hours after the chairs and ranking members of the House and Senate agriculture committees released a formal joint statement Thursday that they had reached an "agreement in principle" on a new farm bill, but that several steps remain before it can be sent to Trump for his signature.
"We're pleased to announce that we've reached an agreement in principle on the 2018 farm bill," the statement said. "We are working to finalize legal and report language as well as CBO scores, but we still have more work to do. We are committed to delivering a new farm bill to America as quickly as possible."
The statement came from House Agriculture Committee Chairman Michael Conaway, R-Texas, Senate Agriculture Committee Chairman Pat Roberts, R-Kan., House Agriculture ranking member Collin Peterson, D-Minn., and Senate Agriculture ranking member Debbie Stabenow, D-Mich., and was released by Conaway's office.
Roberts and Stabenow both told reporters Thursday that the conference report section on nutrition is closer to the Senate version of the Supplemental Nutrition Assistance Program provision. The House version of the bill included stiffer work requirements for SNAP beneficiaries, but the Senate version includes only tougher enforcement provisions.
Stabenow also said that both the Environmental Quality Incentives Prograam and the Conservation Security Program will be continued, which means that the House plan to phase out CSP was not included. The provisions to allow the growing of hemp that are so important to McConnell are also apparently in the bill.
A lobbyist said congressional aides have said the issue of taking base acreage away from wheat growers who have planted land to grass to provide budget authority for a yield update for growers in drought areas has been handled by creating a new program for the growers with acreage planted to grass.
After the legislative text is written and the Congressional Budget Office scores the bill, the House-Senate conference committee must pass the bill and then it must be voted on by both the House and the Senate.
Sen. Charles Grassley, R-Iowa, has said that the conference report might be attached to an appropriations bill to fund remaining government agencies if a majority of House Republicans do not agree to support it.
Congress needs to take some action on appropriations by December 7 or some government agencies, including the Agriculture Department, will be shut down. The House Republican leadership has followed the Hastert rule that it normally does not bring legislation to the floor if Democratic votes are needed to pass a bill.
Stabenow told reporters Wednesday that it is too early to predict whether the bill will move as stand-alone legislation or attached to other legislation.
Source: https://www.thefencepost.com/news/white-house-wont-stop-farm-bill-over-forestry/
McConnell’s year-end wish: Getting Congress to legalize hemp
11/30/2018, 12:07pm
ByAssociated Press
LOUISVILLE, Ky. — Pressed for time and pushed to move quickly on a border wall and criminal justice reform, the Senate’s top leader has his own priority in Congress’ lame-duck session: passing a farm bill that includes a full pardon for hemp, the non-intoxicating cousin of marijuana that’s making a comeback in his home state.
Senate Majority Leader Mitch McConnell has guaranteed that his proposal to make hemp a legal agricultural commodity, removing it from the federal list of controlled substances, will be part of the final farm bill, a crucial measure for rural America and Kentucky, where the Republican senator faces re-election in 2020. He places it on a par with federal spending bills as action Congress must take before the end of the year.
Keeping that promise would cap a decadeslong journey to overcome the stigma associated with the crop, which McConnell himself did not initially embrace wholeheartedly. But in recent years, the quintessential establishment Republican has been all in for the hemp revolution.
McConnell put himself on the conference committee assigned to negotiate a compromise farm bill. Work requirements for food stamps, known as the Supplemental Nutrition Assistance Program, have been the biggest stumbling block holding up an agreement.
Kentucky has emerged as a leader in developing a hemp industry and as a place where legalizing the crop went from a fringe issue to a mainstream cause. Fellow Kentucky Republican Sen. Rand Paul and Republican U.S. Reps. Thomas Massie and James Comer are strong supporters, too.
But it’s McConnell’s backing that has put the long-banned crop on the verge of winning a full pardon.
“We are very fortunate to have Sen. McConnell as our top advocate in Congress,” said Eric Steenstra, president of the hemp advocacy group Vote Hemp.
Comer, a leading hemp proponent since his days as Kentucky’s agriculture commissioner, likes the provision’s chances this year.
“It’s going to happen,” he said.
Hemp is deeply rooted in Kentucky’s past dating back to pioneer days. But growing hemp without a federal permit was banned decades ago because of its classification as a controlled substance related to marijuana. Hemp and marijuana are the same species, but hemp has a negligible amount of THC, the psychoactive compound that gives marijuana users a high.
The crop was historically used for rope but has many other uses, including clothing and mulch from the fiber; hemp milk and cooking oil from the seeds; and soap and lotions. Other uses include building materials, animal bedding and biofuels. Hemp-derived cannabidiol, or CBD oil, as a health product has become an increasingly large market.
Hemp’s comeback started with the 2014 federal farm bill. McConnell helped push for a provision allowing states to pursue hemp research and development. That allowed the crop to be grown on an experimental basis.
“They (hemp proponents) did a nice job of figuring out how to explain the marketplace for this to make this seem like something other than a pie-in-the-sky, fringe idea,” said Scott Jennings, a Kentucky-based Republican consultant with close ties to McConnell. “And McConnell listened and found his way to supporting them because they made a good case.”
In helping push hemp into the mainstream, McConnell reached out to allay law enforcement concerns about the crop, Jennings said. The senator talks publicly about the differences between hemp and marijuana.
It’s not the first time McConnell has been a key player in potentially transforming Kentucky agriculture. More than a decade ago, the Republican lawmaker helped win the multibillion-dollar tobacco buyout, which compensated U.S. tobacco growers and others for losing production quotas when the government’s price-support program ended.
Hemp production has spread since its modest beginning in 2014, when 33 acres (13 hectares) were planted in Kentucky. Kentucky farmers planted 6,700 acres (2,710 hectares) of hemp in 2018— more than twice last year’s production, according to the state’s agriculture department. More than 70 Kentucky processors are turning the versatile plant into products.
“Industrial hemp is no longer a novelty in Kentucky but is emerging as a commodity with a viable economic success,” said current Kentucky Agriculture Commissioner Ryan Quarles.
Nearly 78,000 acres (31,500 hectares) of hemp were grown nationally this year, up from nearly 26,000 acres (10,500 hectares) in 2017, with Montana, Colorado and Oregon joining Kentucky as top 2018 producers, according to Vote Hemp.
Hemp products sold in the U.S. had an estimated retail value of at least $820 million in 2017, the group said. With limited domestic production allowed by law, most hemp is imported. If domestic hemp production wins legalization, those sales will soon eclipse $1 billion and keep growing, Steenstra said.
“This is huge,” he said. “The farm bill hemp provision is going to provide a much-needed regulatory certainty for the market. We’ve got a lot of people that are interested in investing in this but have been sitting on the sidelines.”
In Kentucky, the road toward hemp legalization was bumpy. Law enforcement put up stiff resistance to Kentucky’s legislation in 2013 to set up a framework to allow hemp pilot projects once the federal government lifted restrictions on the plant. Comer recalled a shouting match erupting as the bill was pitched behind closed doors to some Republican lawmakers.
Then, in the spring of 2014, as Kentucky farmers prepared to plant the first legal hemp crop in decades, a court fight broke out when imported hemp seeds were detained by federal authorities. The state’s agriculture department, then led by Comer, sued the federal government. The seeds eventually were released after federal officials approved a permit and an agreement was reached on importing seeds into Kentucky.
Now, development of a hemp industry has “exceeded my wildest expectations,” Comer said. But there were anxious times in the early days.
“My fear was it would be a bust and it would never amount to anything,” Comer said. “And people would say, ‘Well, you spent a lot of time and energy for nothing.’ But I don’t think there’s anybody in America that would say that fight wasn’t worth it. Because it’s just really created a lot of opportunities.”
Source: https://chicago.suntimes.com/cannabis/mcconnells-year-end-wish-getting-congress-to-legalize-hemp/
Congress Will Legalize Hemp By Year’s End, Promises Mitch McConnell
This would be the first time since World War II that large parts of the US could grow the plant for profit
By: Mike Adams
Nov 30, 2018
Farmers all across the United States could soon have the freedom to cultivate the same mega cash crop as our forefathers did hundreds of years ago.
Congress has reportedly reached a tentative agreement on a brand, spanking new farm bill that comes with a provision to legalize industrial hemp nationwide. If passed, which is expected, it would be the first time since World War II that most of the nation’s agriculture sector has been allowed to grow this plant for profit. It is a crucial deal that farming advocates have been hoping would gain traction for some time.
It was just last month that Senate Majority Leader Mitch McConnell said, “If there’s a farm bill, it’ll [industrial hemp legalization] be in there, I guarantee that.” Now, it seems the man some have referred to as Cocaine Mitch is making good on his word. The hemp provision tucked inside the farm bill would eliminate the crop from the Controlled Substances Act, where it has been lumped in with marijuana since 1937, giving farmers the opportunity incorporate it with their plow and pick repertoire.
The word on the street is that the bill must pass by the end of the year.
But this action would in no way have an impact on the nation’s marijuana laws. Hemp is considered the non-intoxicating cousin of the cannabis plant. Although the two plants are similar in appearance, someone would smoke an entire field of hemp and still not get high. But it is because of their similarities that the federal government has insisted that hemp remain illegal for so many decades. The concern was that the crop could be used as a front for criminal organizations dealing in black market pot commerce.
Yet, if hemp goes fully legal in 2018, McConnell says it would be “lightly” regulated by the U.S Department of Agriculture. So, farmers would need Uncle Sam’s permission before planting this crop.
Hemp is a massive part of American history. It was grown by George Washington and Thomas Jefferson back in the good old days. It is perhaps one of the most versatile fibers known to man. It can be used to clothing, food, construction materials and fuel. Interestingly, Henry Ford once built a car using hemp fibers for the panels and other components. And while the cultivation of this plant has been prohibited for decades, the United States imports around $820 million of it every year. So it stands to reason that bringing this cash crop back to the U.S. could serve as a salvation’s wing for many farmers. Especially considering the struggles that Trump’s tariffs have put on traditional crops.
Since 2014, several states have been allowed to operate industrial hemp pilot programs, where select universities research the crop to determine the best methods for production. Still, the average farmer hasn’t been able to participate. The latest version of the farm bill would change all of that.
McConnell said last month that he doesn’t know whether industrial hemp will be as lucrative as tobacco, “but I do think it has a lot of potential.” But there has been a lot to contend with in getting this bill passed. While Congress has been busy trying to help the American farmer, Trump has been pressuring lawmakers to allocate funds to build his wall on the U.S Mexico border.
Nevertheless, industrial hemp should be legal nationwide by year’s end.
Source: https://thefreshtoast.com/cannabis/congress-will-legalize-hemp-by-years-end-promises-mitch-mcconnell/
Growing hemp is about to be legal for the first time in nearly a century
CBD will finally no longer be in a legal gray area
By Angela Chen@chengela Nov 30, 2018, 1:22pm EST
Congress just reached an agreement on proposed legislation that could make hemp legal to grow in the United States for the first time in nearly a century. Hemp may be derived from the same plant as marijuana, but it doesn’t make anyone high and is commonly used in food, fuel, and bracelets. The new legislation officially acknowledges the difference between the two.
Technically speaking, hemp is a variety of the cannabis plant that contains less than 0.3 percent tetrahydrocannabinol (THC), the psychoactive ingredient in marijuana. Though its derivatives have been used for everything from textiles to medicine, hemp is currently everywhere in the form of a trendy ingredient called cannabidiol (CBD). Manufacturers promise that CBD will alleviate pain and depression and other health issues (despite a lack of solid evidence for many claims), yet CBD has lived in a legal gray area for years because of the tricky legal history of hemp.
Not only have cannabis derivatives like hemp been effectively banned in the US since the Marijuana Tax Act of 1937, other legislation has categorized marijuana products as dangerous Schedule I substances like LSD and ecstasy. Then in 2014, Congress passed legislation that approved small pilot programs for growing hemp, though to do so, farmers still needed approval from the Drug Enforcement Administration. (This 2014 provision was part of the Farm Bill, a massive piece of legislation that sets policy around food and agriculture. The Farm Bill needs to be renewed every few years, so the new decision to legalize hemp is part of the proposed 2018 Farm Bill.)
Despite this, there was some debate over whether derivatives of the hemp plant, like CBD, were really excluded from the Controlled Substances Act, according to Shawn Hauser, a senior associate at cannabis law firm Vicente Sederberg, hence the legal gray area. “The 2018 bill actually goes in and amends the Controlled Substances Act to make very clear that CBD derived from hemp would not be considered a controlled substance,” she says.
This is “a pretty important step forward in terms of federal government’s recognition of what CBD is and what its lack of potential harm or risk is,” says John Hudak, a senior fellow at Brookings Institution and author of Marijuana: A Short History. There are likely to be more CBD products now, but that still doesn’t mean that everyone can just grow hemp in their backyard. Farmers will no longer need DEA approval, but there will still be significant federal and state restrictions on hemp products and growers will need to be licensed and fulfill other requirements developed by the US Department of Agriculture. “It’s not going to be this free-for-all that some people imagine,” Hudak says.
Proponents of legalizing hemp argue that it provides an opportunity for new jobs and economic growth, especially because hemp is a versatile plant that can grow in various climates. For example, Kentucky — the state of Republican Senate Majority Leader Mitch McConnell, who sponsored the hemp provision — is one of the best places to grow the plant. “Kentuckians think that this could help replace coal miner jobs in eastern Kentucky and could jump start local economies that have really suffered as economic transition has happened,” Hudak says.
At the same time, critics and hemp activists point out that the language of the bill prevents people with drug-related convictions from ever taking part in the hemp business, which is a loss for racial justice given that these drug convictions disproportionately have targeted poor people and people of color. Plus, this prevents growers with marijuana experience from entering the labor market. Growers will also continue to face environmental issues such as water use and energy consumption as hemp cultivation expands from smaller pilot projects to larger-scale agricultural enterprises.
Justin Strekal, political director of the pro-marijuana group NORML praised the agreement but said new regulations are needed. “For years, many of the producers of these products have navigated in a grey area of the law — manufacturing products of variable and sometimes questionable quality and safety,” Strekal stated. “Now it is time for lawmakers to craft simple benchmark safety and quality standards for hemp-derived CBD in order to increase consumer satisfaction and confidence as this nascent industry transitions into a legal marketplace.”
The House and the Senate both need to officially vote on the new legislation, which is expected before the end of the year. As Hauser says: “We’re still in infancy at the precipice of a new business which other industrialized countries have had for decades.”
Source: https://www.theverge.com/2018/11/30/18119536/hemp-cannabis-farm-bill-politics-regulation-marijuana-industry-business
U love it. Can even have a pre-roll after you wash up.
:D
Watch for some profit taking on Friday.
Let it move up and to the right.
Won't mind to see some type of red doji candle either.
Let it melt up to legalization, and we good. Hemp good.
Yep, I just sold too... couldn't stand the thought of national legalization any longer...
Seems like none of that could ever benefit a company calle HEMP INC, already WINNING awards.
/s
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Future Farm Tech, HempCo, and others also in the mix, brah!
NATIONAL HEMP LEGALIZATION COMING FAST
HEMP INC ALREADY WINNING AWARDS
Lawmakers Reach Farm Bill Deal, Hemp Legalization Incoming
11/29/2018 Graham Abbott
Lawmakers in federal Farm Bill negotiations said Thursday they have reached an “agreement in principle” that would break a months-long standoff over commodity policy and food stamps disagreements, Bloomberg reports.
The bill’s hemp language, which was inserted by Senate Majority Leader Mitch McConnell (R-Kentucky), is reportedly intact after Sen. McConnell personally followed up with the Farm Bill conference committee to ensure it was included. The hemp provisions will reclassify the plant as an agricultural commodity, removing it from the list of federally controlled substances and allowing farmers to pursue crop insurance for their industrial hemp.
The Farm Bill negotiations were not at all related to the hemp provisions it contained but rather to a request by President Trump that lawmakers include provisions expanding work requirements for people who receive federal food stamps. Supporters have nonetheless waited impatiently for news that the $867 billion spending bill would pass without having its hemp legalization language stripped away.
House Agriculture Chairman Mike Conaway of Texas (R) said the compromise leaned more towards the Senate version of the bill.
Lawmakers Reach Farm Bill Deal by Dumping GOP Food-Stamp Rules
https://www.bloomberg.com/news/articles/2018-11-29/farm-bill-deal-reached-by-dumping-new-work-rules-backed-by-trump
DUMPITY DUMP DUMP DUMP! HEMP IS COMING!!!!!!!!
Who is going to process all the hemp farmers will harvest?
$HEMP
WATCH---HEMP INC GROWING, PROCESSING, & SHIPPING HEMP
https://www.facebook.com/KingOfPot/videos/10216330020819601/
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HEMP INC -- CBS NEWS
HEMP BOOMING, WANT SOME MORE!
It's coming, Gailmsters. Hemp is IN the farm bill.
On it's way through congress, then Senior Trumpez for...
EXECUTIVE SIGNATURE
Ag committee leaders reach agreement on farm bill
By Jenny Schlecht / Agweek Staff Writer Today at 10:30 a.m.
WASHINGTON — House and Senate ag committee leaders say they have "reached an agreement in principle" on a farm bill.
"We're pleased to announce that we've reached an agreement in principle on the 2018 Farm Bill. We are working to finalize legal and report language as well as (Congressional Budget Office) scores, but we still have more work to do. We are committed to delivering a new farm bill to America as quickly as possible," said a Nov. 29 joint statement from House and Senate Agriculture Committee Chairmen Rep. Mike Conaway, R-Texas, and Sen. Pat Roberts, R- Kan., and Ranking Members Rep. Collin Peterson, D-Minn., and Sen. Debbie Stabenow, D-Mich.
Sen. Heidi Heitkamp, D-N.D., said Nov. 29 that she's hesitant to say the process is done until final language and CBO scoring is complete, but she is confident a bipartisan bill will be released soon.
"At this point, it's looking very very good for getting a bill," said Heitkamp, who has served on the ag committee and the farm bill conference committee.
Sen. John Hoeven, R-N.D., on Nov. 27 said that getting a farm bill done by Nov. 30 was important for timing reasons. He said Senate Majority Leader Mitch McConnell has committed to getting the bill floor time.
Hoeven, who is a member of the farm bill conference committee as well as the chairman of the ag appropriations committee, said the farm bill "is our first, second and third priority."
The American Farm Bureau Federation, the nation's largest farm group, cheered the Nov. 29 announcement.
"The farm bill and ag policy broadly remain bipartisan matters and we encourage both houses of Congress to approve this bill once it is finalized by House and Senate Ag Leaders. We are thankful the Agriculture committees have stayed true to their mission to serve the American farmer and rancher and our nation's consumers, and we look forward to working with the next Congress on all the issues facing agriculture," said AFBF president Zippy Duvall in a statement.
Heitkamp and Hoeven said the bill leans far closer to the Senate version of the bill.
"Fundamentally, it is the Senate bill with some tweaks," Heitkamp said.
"But it's got elements of the House bill that are important," Hoeven said.
Heitkamp said "draconian changes to the nutrition program" included in the House bill have been scrapped in favor of the Senate nutrition language. That will be important to getting passage in the Senate, she said.
"This is a farm bill that will get bipartisan support in the House and probably get the same level of support in the Senate," she said, noting that the bill is based on the 2014 farm bill.
Heitkamp said important changes were made to the Agriculture Risk Coverage and Price Loss Coverage programs, and the bill will make permanent beginning farmer and rancher programs. The bill also will make it possible to use federal marketing assistance for trade with Cuba, which she said was important due to the need for new markets for North Dakota products. The sugar program and crop insurance program remain in the bill, too.
"A number of the conservation issues were resolved in a way that I think will satisfy a lot of North Dakota folks," Heitkamp said.
Hoeven said issues to resolve as of Nov. 27 included disagreements in regard to payment provisions and conservation programs. He said the issue of forest management — made more conspicuous by the deadly California wildfires — remained on the table at that time. The House bill had provisions which would give the Interior Department and the Forest Service authority to clear dead trees and brush from forests, while the Senate bill did not.
"I think we've got a good bill. I think this is a good bill for our farmers in North Dakota and our farmers nationally. We want this bill. We want to get it done," Hoeven said.
Heitkamp, who will leave office at year's end after her defeat in the November election, said finishing the farm bill has been a priority for her. The urgency to get the bill completed, she said, stemmed from the upcoming changes in the House to Democrat control and the ongoing trade problems.
"I've said all along that the single most important job of a North Dakota senator is to get a farm bill," she said. "In a time of uncertainty in our markets, we need to get certainty in our farm bill."
While the farm bill is the most important thing at play in Washington, Hoeven said he's talked to Vice President Mike Pence on issues like trade and disaster assistance in recent days, too.
"It's not just the farm bill, but that is the absolute priority," he said.
Heitkamp agreed. She said she remains "deeply concerned" about the loss of markets. The "new NAFTA," as she called the U.S.-Mexico-Canada Agreement, has not yet been approved, and more potential trade negotiations await completion.
"None of this has been finalized," she said.
Source: http://www.agweek.com/business/agriculture/4535761-ag-committee-leaders-reach-agreement-farm-bill
Senate and House Ag Leaders: We've Reached Agreement in Principle on 2018 Farm Bill
WASHINGTON, D.C. – Senate and House Agriculture Committee Chairmen Pat Roberts (R-Kan.) and Mike Conaway (R-Texas) and Ranking Members Debbie Stabenow (D-Mich.) and Collin Peterson (D-Minn.) made the following announcement today on the state of 2018 Farm Bill negotiations:
“We’re pleased to announce that we’ve reached an agreement in principle on the 2018 Farm Bill. We are working to finalize legal and report language as well as CBO scores, but we still have more work to do. We are committed to delivering a new farm bill to America as quickly as possible.”
Source: https://www.agriculture.senate.gov/newsroom/rep/press/release/senate-and-house-ag-leaders-weve-reached-agreement-in-principle-on-2018-farm-bill
It is time.
Hemp is coming.
$10M PP&E, right?
HEMP INCORPORATED---#1 AWARD WINNING---BIOMASS BY THE TON!
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BOOM!
$HEMP
Negotiators reach tentative farm bill agreement
11/28/18 1:11 PM By Philip Brasher
Farm bill negotiators said Wednesday they have reached a tentative agreement on the legislation pending getting final cost estimates.
“I am excited about the progress that has been made," House Agriculture Chairman Mike Conaway, R-Texas, said in a statement Wednesday night. "We’ve reached an agreement in principle, but we’ve got more work to do. I’m committed to delivering this important win to rural America.”
Earlier Wednesday, Senate Agriculture Chairman Pat Roberts, R-Kan., told reporters outside the Senate chamber that the negotiators reached agreement on all the outstanding issues but still needed to get the cost estimates, or scores, from the Congressional Budget Office to make sure no additional changes were needed.
Asked how soon he expected to get those numbers from CBO, he told reporters, “Sooner is better. I’m going to be talking to leadership to see if we can light a fire.”
Roberts expects the legislation to be considered as a standalone bill rather than being attached to spending legislation Congress must pass in December.
Earlier Wednesday, Roberts and the Agriculture Committee’s top Democrat, Debbie Stabenow of Michigan, said congressional leaders had agreed on how to address the Trump administration's demands for new authority for addressing wildfires. But the senators declined to discuss how the forestry issue was settled or to talk about other details of the pending agreement.
"We’re very, very close to getting a bill and going any farther would be counterproductive,” Stabenow said.
Representatives of major environmental groups said they didn't expect the administration to get the key provisions it wanted, categorical exclusions from the National Environmental Policy Act that can accelerate salvage or thinning projects on federal lands.
Roberts chairs the House-Senate conference committee charged with negotiating the final bill, but the negotiations have largely been carried out by Roberts, Stabenow, leaders of the House Agriculture Committee, and staffs of both the Senate and House committees.
Source: https://www.agri-pulse.com/articles/11686-roberts-final-farm-bill-agreement-hinges-on-cost-estimates
Hemp is coming.
Hemp is coming.
Yes, it is.
Yes, it is.
Hemp can save the world, for all the boys a girls.
Ding dong ding. Ding dong ding.
Mitch McConnell’s Farm Bill Could Blow Up the CBD Market
by Lester Black • Nov 28, 2018 at 2:45 pm
CBD is already big business in America with hundreds of millions of dollars in sales every year. But the market for pot's second most famous compound might soon skyrocket thanks to a somewhat unlikely ally: Kentucky Senator Mitch McConnell.
The powerful Republican from Kentucky included provisions in this year’s Farm Bill that would fully legalize industrial hemp. That bill is now a top priority for Congress to pass before the end of the year, and if it becomes law we might see CBD on the shelves of every drug store in America.
“Once CBD is fully legalized, we expect that market to absolutely explode, with sales hitting $22 billion by 2022, which is higher than the US Cannabis industry,” said Bethany Gomez, the director of research for the cannabis research firm Brightfield Group. “That growth will absolutely be a result of legalization."
CBD, a non-psychoactive and medicinal compound in pot that can be used to treat a wide range of conditions, currently occupies a legal gray area in America. Legal sources of CBD exist, but those sources require significant hurdles and the federal government rarely enforces laws against illegally sourced CBD. That has created a system where there’s a lot of illegally sourced CBD being sold on retail shelves. This gray area has hampered CBD’s growth by stopping big retail players like CVS and Walgreens from selling the drug. Most CBD is sold either online or in small independent health stores.
McConnell’s bill would likely change that. This year’s proposed Farm Bill removes industrial hemp, the most common source of CBD, from the Controlled Substance Act. Industrial hemp is any cannabis plant that contains less than 0.3 percent THC. By making industrial hemp fully legal, McConnell’s bill would make it easier for farmers to grow CBD-rich cannabis and less risky for big retailers like CVS to know that what they are buying is federally legal.
Brandon Beatty, the founder & CEO of the CBD brand Bluebird Botanicals, said the bill would allow large retailers to stock CBD products. Right now CBD products are largely relegated to independent natural health stores.
“Many watching the industry guess that the day the 2018 Farm Bill gets signed will be the day that some of the biggest players in the industry put in their orders to get CBD-rich hemp extracts on their shelves.”
Gomez said getting retail chains involved in CBD would blow the industry up.
"Year-on-year growth even prior to legalization hit 80% in 2018, with the year expected to close at $591 million. This is a strong year-on-year growth, but considering that all of the chained retailers and large Healthcare and Consumer Packaged Goods companies are kept out of the industry, this is tiny,” Gomez said in an e-mail.
McConnell’s hemp legalization is an expansion of what Congress did in their last Farm Bill in 2014. In that law, Congress made it legal to grow CBD-rich industrial hemp if a farmer received a research permit from either a state government or a university. Seth Goldberg, a partner and the head of the cannabis practice at the Philadelphia law firm Duane Morris, said 2018’s version would make it so farmers would no longer need those special permits.
“McConnell’s bill would remove industrial hemp from the CSA [Controlled Substance Act], which is a change to industrial hemp research program in the 2014 Farm Bill. Under that program industrial hemp and uses of it were restricted to state-regulated, university-affiliated agricultural research programs,” Goldberg said in an e-mail.
These state research programs have become more common since 2014 with dozens of states adopting them, but they are often expensive and full of cumbersome regulations. The Washington State Department of Agriculture created an Industrial Hemp program but many farmers never got involved thanks to expensive permits and invasive regulations. McConnell’s bill would remove any requirement to comply with those programs.
Beatty from Bluebird Botanicals said the Farm Bill would also expand banking access for CBD companies and allow farmers to buy crop insurance for the CBD-rich hemp crops. Beatty said these extra protections would grow the market even further.
“In just five years, the markets developed rapidly into over a thousand companies and a number of large companies. The further protections of the 2018 Farm Bill will open the floodgates to the many who didn't have the courage to get into the industry earlier but see a market booming,” Beatty said in an e-mail.
Goldberg, who is watching the Farm Bill for a trade group of West Coast pot businesses called the Western Regional Cannabis Business Alliance, said the hemp legalization measures appear to have support from both Republicans and Democrats.
“The bill seems to have bipartisan support and there is no indication that it will not be included in the 2018 Farm Bill when it passes,” Goldberg said via e-mail.
The biggest problem with the Farm Bill might be a controversial Republican proposal to add new work requirements for food stamps. The federal government’s food stamp program forms the bulk of the Farm Bill’s spending.
Goldberg said the bill might not pass before the end of the year, during the so-called "lame-duck" session.
“There appears to be an effort to pass the 2018 Farm Bill during the lame-duck session. In all events, it does not seem like McConnel’s bill is the cause of the delay and it will be included in the bill whether passed in 2018 or early 2019.”
Source: https://www.portlandmercury.com/blogtown/2018/11/28/24885378/mitch-mcconnells-farm-bill-could-blow-up-the-cbd-market
Knock knock, who’s there? Not the new farm bill
By AGDAILY Reporters Published: November 28, 2018
As of Sept. 30, the farm bill officially expired. Stuck in conference committee for months, the bill has been debated and delayed. With a little over a dozen days left for Congress to make any decisions, the clock is ticking. If the bill is not finalized before that, it goes back to square one. If the process has to start over, the new Democrat-controlled House could make changes, resulting in even more time before an agreement is reached. Farmers and ranchers across the country are feeling the impacts of the delay.
The National Governors Association, National Association of State Departments of Agriculture, and National Conference of State Legislatures sent a letter to congressional leadership regarding the urgency of passing a new farm bill before Congress adjourns.
The letter states:
Lawmakers reach tentative farm bill deal after months-long impasse
By Erica Werner and
Jeff Stein November 28 at 4:00 PM
Key lawmakers said Wednesday they have reached a tentative deal on a massive farm bill, breaking a months-long impasse over legislation that doles out more than $400 billion in federal funds for farm subsidies, food stamps and conservation efforts.
Lawmakers have been at odds over a House GOP proposal to boost work requirements for food stamp recipients, but Sens. Pat Roberts (R-Kan.) and Debbie Stabenow (D-Mich.), the leaders of the Senate Agriculture Committee, said they had resolved the debate over the work requirements and other outstanding issues.
The senators declined to offer details of the emerging compromise, cautioning that it was not final and could change pending completion of cost analyses and legislative language. Nonetheless, both expressed optimism the legislation could pass before the conclusion of Congress’s lame-duck session next month.
“We have an agreement on the outstanding issues,” Roberts said. “But until you get that language on the bill, and you know where we are with the scoring, it’s premature to say that we have a complete agreement.”
A massive legislative package that oversees a range of farming, conservation and nutrition programs, the farm bill is reauthorized every five years — generally on a bipartisan basis. Separate bills passed the House and the Senate over the summer, and negotiators have spent months trying to reconcile the differences between the two versions, even as the existing farm bill expired Sept. 30.
The compromise bill now being developed must pass each chamber again before heading to the president’s desk.
The biggest debate over this year’s farm bill was over food stamps, as House Republicans pushed much stricter work requirements for “able-bodied” adults seeking to benefit from the program.
The Republican plan would have added new work requirements for those between age 49 and 59 and made it more difficult for states to waive some food stamp work requirements. Among other changes, the GOP plan would have also removed the existing work requirement exemption for parents with children older than 6.
But those positions ran into opposition in the Senate, where the bill requires votes from Democrats to be approved. Between 800,000 and 1.1 million households would have faced food stamp benefit cuts under one of the House Republican proposals, according to a study by the Mathematica Policy Research, a policy research organization.
Sen. John Thune (R-S.D.), the No. 3 Senate Republican, said that his understanding was that the compromise language on food stamps was likely to hew closer to the initial Senate version of the bill — which did not have the new work requirements.
“It was pretty clear you weren’t going to get a single Democrat vote in the Senate for what the House had passed,” Thune said.
Stabenow and Roberts said both parties should be able to live with the compromise legislation and that their House counterparts also had signed off.
Lawmakers faced pressure from farmers and ranchers to get a deal done, particularly amid a steep decline over the last several years in farm incomes as commodity prices have sagged, said Dale Moore, executive vice president of the American Farm Bureau Federation, an industry group.
“Reaching an agreement gives farmers and ranchers certainty that a farm bill is getting done and will help them weather the economic storms in their way,” Moore said. “It’s especially important as banks are beginning to look with farmers at the next financial year.”
Negotiators also feuded over a forestry section of the farm bill, as the White House made a late push for provisions that would have allowed for the clearing of material from forests that they argued help spread fires. That push emerged in response to the California wildfires earlier this month.
Stabenow said the pending agreement would provide much-needed stability to farm country.
“Farmers and ranchers need certainty right now with everything that’s going on, and trade and tariffs and everything, prices, you know,” she said. “Rural America needs certainty, and this would give them that.”
Source: https://www.washingtonpost.com/business/economy/lawmakers-reach-tentative-farm-bill-deal-after-months-long-impasse/2018/11/28/72089d48-f344-11e8-bc79-68604ed88993_story.html?_hsenc=p2ANqtz-_fdrf4cs4XApxMoZ_QN9DydnjIWPn1G8FsTxe4dWkIFFnzWUInV-ljCawYRZtaUSOKf7gvZR8fEAdz_LCGg7BBuDxaFl99iBuPm5h8YjDdf52u7Ck&_hsmi=67901138&noredirect=on&utm_campaign=Hemp%20Roundtable&utm_content=67901138&utm_medium=email&utm_source=hs_email&utm_term=.9b2bd80f2081
Confirmed! Longs making "good money" with HEMP.
There will be a few hundred million vol days ahead, when farm bill passes.
Keep in mind, soon, the entire sector will be as liquid as the oceans.
HEMP bought its Co2 extractor from FRLF.
Think we are about to swap that for a different type extraction process, tho... ethanol, if I'm not mistaken.
Lots of other plays, yes, but Hemp is #1.
OMG FARM BILL HAPPENING? HOURS AWAY?
Medical marijuana legislation in the works between NC lawmakers
By: Morgan Frances
POSTED: NOV 27 2018 10:45PM EST
VIDEO POSTED: NOV 27 2018 10:47PM EST
UPDATED: NOV 27 2018 10:49PM EST
CHARLOTTE, NC (FOX 46 WJZY) - Cannabis conversations are picking back up between state lawmakers. They’re meeting this week to drum up a plan to make medical marijuana legal in North Carolina.
Meanwhile, inside a Charlotte CBD shop, business is booming.
“Less than 2000 square foot space, no parking and we have some incredible numbers for our first month in business,” said Michael Sims, part owner of Charlotte CBD.
Sims says their sales in the first month alone are already around $500 million.
CBD is a legal extract of the marijuana plant. It doesn’t make people feel high, but it’s widely purchased for medical benefits.
“What we're learning is people are now educated about these products and they're looking for more,” Sims told FOX 46. “The CBD is giving them relief, but they're realizing that the THC portion is missing in the relief they're looking for.”
North Carolina State Representative Kelly Alexander is leading the push for legalizing medical pot.
It's a personal project for him.
“I'm in the funeral business,” he told FOX 46, “and I have seen a lot of people go through needless suffering.”
Alexander wants to let each county decide on whether or not they want to legalize it for medical use, similar to the ABC liquor store system.
“We have used local options for counties to decide whether or not they wanted to be in the ABC system or not,” he said. “Using that kind of template applied to medical marijuana just seemed to make some sense,” Alexander added.
Some are skeptical with how that'd work.
“I think that would create a giant nightmare for, you know, when you're thinking about where pockets of legality would exist vs illegality,” said Scott Gunter who says he is indifferent about its legality.
Those in the hemp business are hopeful it will someday get legalized.
“Our opinion is very in favor,” Sims said. “We are looking for legalization, but we hope it happens in the right way.”
Some questions still remain such as what would happen to those already incarcerated for possession of marijuana if the drug is legalized.
Representative Kelly Alexander will meet with lawmakers this week to discuss reform. The earliest they could introduce legislation would be late January or early February.
Source: http://www.fox46charlotte.com/news/local-news/medical-marijuana-legislation-in-the-works-between-nc-lawmakers