By legalizing hemp, the 2018 Farm Bill sets the stage for a national and international trade in CBD that is expected to dwarf the market for THC products.

CBD is the straitlaced cousin of marijuana’s more famous component — the THC that makes you high. CBD (Cocannabidiol), has no such intoxicating effects and is derived directly from the hemp plant, which is a cousin of the marijuana plant. Hemp and hemp derived products are legal under the Farm Bill, as long as their THC content is less than 0.3%

Even with all the hype of CBD, it cannot be overstated how beneficial this plant could be for U.S. farmers in the coming years.

The plant has over 25,000 known uses and is potentially an eco-friendly alternative for other crops commonly produced on an industrial scale.

One of the most lucrative industries that hemp farmers are tapping into is the production of CBD oil, a medicinal compound in cannabis plants that contains no THC and is thus legal to consume in all 50 states.

Canadian farmers are making as much as $300 per acre, per season, farming industrial hemp. That’s five to 10 times as much as what our farmers in the Midwest are currently making for growing GMO wheat, corn and soy.