2019 fall farm

2019 Logan County Farm Outlook Magazine Lincoln Daily News Nov. 1, 2019 Page 21 Wisconsin are also facing this challenge and some still have their hemp in storage as they attempt to find processors. Hemp cultivation is another challenge. Though hemp can be cultivated with regular farm equipment, special machinery is needed for processing the hemp stalks. This machinery is rarely found in the United States other than places like Colorado, but Modern Farmer says, “To avoid making costly new equipment purchases, growers may be able to contract with companies who accept the raw plant material and do processing at a regional level.” For those who decide to grow hemp, financing may present an additional challenge because banks are not quite sure how to handle it. According to the American Banking Association, “There has been little to no clear direction on distinguishing legal hemp and federally illegal marijuana, leaving banks uncertain about the legality of working with hemp and CBD businesses.” In a letter from the American Banking Association, the association said, “Banks want to serve their communities and support their local economies, but need clear, unequivocal assurance from their regulators that hemp is distinguishable from cannabis, and that serving the industry will not expose them to criminal and civil liability, or regulatory censure.” The legal uncertainty causes a problem, especially for the Federal Deposit Insurance Corporation that oversees banks. Alberti says the FDIC cannot give loans, but community banks can. An additional challenge is hemp transportation. One article on the legal status of hemp says, “Hemp transportation has come to be a hot subject as the clash in between federal and state laws build confusion.” With the confusion and unknowns, they say, “A lot more discussion is necessary in between the two sides to clarify how industrial hemp can be transported in between states.” Combined with all these challenges, at this point, there is not a lot of infrastructure, so Alberti says people are trying to develop the supply chain, or network, for hemp. With the uses and versatility of hemp, it is an alternative crop with great potential. In a recent Forbes article David Carpenter says, “Hemp has proven to be a superior choice over other traditional crops.” Kentucky farmer Brent Cornett, has started planting hemp where he previously grew tobacco and says, “There’s been plenty of challenges with a new crop, but as of today, a mediocre hemp crop is yielding a better return than an excellent tobacco crop.” The future of hemp looks promising. References: Industrial hemp - Agricultural Marketing Resource Center https://www.agmrc.org/commodities- products/fiber/industrial-hemp Continue 8