Grain farmers who have been in the commodity crop rat-race with every farmer getting paid the same standard market rate at the elevator, need to shift their thinking when it comes to hemp for CBD production.
This is a crop with commodity potential but being sold like a specialty crop. It’s not JUST about yield. Your hemp crop will be processed, and paid for, on its own merits. This means a better, smarter grower will be rewarded – greatly – for better practices!
Starting with the hemp varietals you choose to plant, all the way through the growing, fertilizing, harvesting and drying process, keeping a close eye on your CBD percentages is the key to maximizing the return on your crop and improving your practices for next year.
While market prices are certainly still fluid as this industry grows at break-neck speeds, there is currently no end in sight to the demand for CBD oil. And while there is a buyer out there for ALL hemp-derived CBD whether that is a low percentage or high percentage crop, the highest percentage CBD crops are getting – BY FAR – the highest dollar returns.
Testing your Industrial Hemp Crop Pays Dividends
Consider this, if the market price is currently paying $3 per percentage point (a price CBD has been capturing) and your hemp tests at 10 percent CBD that means your biomass is worth $30 per pound.
If you harvested 4000 lbs of dried biomass per acre (yields depending on spacing have been producing 3000 to 6000 lbs per acre), that’s $120,000 per acre.
But if you harvest too early, you might sacrifice percentage points. Or…if after harvest and drying your 10 percent CBD crop went down to five percent, well now you just lost half your value due to bad harvest practices and know you have a problem you need to fix before next year.
And not only is CBD the only cannabinoid to consider. CBN and other cannabinoids produced by the hemp plant are also tested for. These additional cannabinoid’s also offer many potentials in the medical and health fields and may be the next ‘big thing’ coming in hemp production as the industry expands and the potential of the hemp plant is utilized.
To get started testing your hemp crop, contact John@hemplogic.com.
HempLogic, America’s largest vertically integrated company, started in 2015 with a belief in putting farmers and customers first. We provide ethical, trust-worthy and no-nonsense partnership to committed hemp farmers and industry partners. HempLogic offers certified hemp seeds, hemp farming education, contract, business and legal consulting, testing services, biomass brokering and drying capabilities.