A recent commodity auction in Tennessee was supposed to help the new hemp farming segment of agriculture to get the optimal price for their fall crops. It was a disappointment. But that's the risk farmers always deal with. Many of the farmers had prepped their produce for the CBD oil producers. (see news account)
The 'biomass' product that was the subject of the "Pawhuska Bust" of last January, where local cops & an ignorant prosecutor insisted they had the state's largest marijuana bust in Oklahoma history. That payload was purchased by a Colorado CBD oil processor for making CBD Oil. The produce & the finished product is now federally legal in all 50 states, as long as the THC (psychoactive component) remains in trace levels under 0.3%. Trace hemp delivers the CBD oils & terpenes without impairing THC impact. It smells the same, but is federally legal.
Back to the Tennessee auction...
Tuesday’s 2nd day focus of the International Hemp Auction & Market (IHAM) auction was the most valuable part of the hemp plant – the bud, the smokeable flower, which hopefully means more money for farmers. There weren't enough buyers to sustain the unexpected high volume of crops. The buyers quickly found out and decided to wait while new lots went downward in selling price. Eventually, the farmers pulled their crops and waited for another opportunity to sell for a better price. Some may give up on auctions and go directly to a processor to make a deal.
This could signal a great retail price for Trace Hemp at a local CBD shop.
Tennessee is way ahead of Oklahoma, in the Trace Hemp industry. It's partly because the Tennessee state govt. is motivated to build this farming opportunity.
Nigel heavily focuses on the medical research and drug policy topics at SoonerPolitics, from an international perspective & a background in homeopathic herbs and agrarian culture.