New Frontier data released a new analysis on the looming trade war with China and its effect on soy.
The report states that soy beans are our nation’s farmers second largest export to china. In 2017 US farmers sold 1/3 of its soybean harvests with a value of $14 billion to china.
In 2012 soybean price per acre was at $160 after costs. This year the price has dropped to around $140 with 2019 projected at another $47 loss.
Hemp grain can sell for anywhere between $0.60-$0.65 per pound, and on average, hemp farmers get about 1000lbs of hemp grain per acre. After taking into account costs, which can range from $300 to $350, farmers can make around $250 to $300 per acre. Similarly, hemp fiber sells for approximately $260 per ton. On average, hemp crops can yield about anywhere between 2.5 to 3 tons of hemp fiber per acre, which means after costs farmers can make upwards of $480 per acre in profit.
Depending on the state, circumstances, and cultivation method; cultivating hemp for CBD can generate anywhere between $2,500 and $75,000 per acre.
With the trade war just starting and our nation having to ride the waves of tarriffs Hemp is starting to look like a great rotation crop and even better main staple.
To read the full report visit new frontier data