Data from the South Dakota Industrial Hemp Association estimates that there are more than 3,000 acres of hemp being grown in the state this year. While this is a substantial amount, it has been overshadowed by the planting of other crops.
This year, farmers in South Dakota planted 5.1 million acres and 6.1 million acres of soybeans and corn, respectively. From this, we can see that hemp has a long way to go as a cash crop before it can compete with crops such as soybean, corn, wheat and sorghum.
Despite this, the president of the South Dakota Industrial Hemp Association, Ken Meyer, revealed that farmers in the state could grow hemp without irrigation, which significantly reduces costs. Meyer added that the right latitude made it easier for hemp to grow well in the area.
The crop is now in its fourth cultivation season in the state, with Meyer noting that the state had done a lot to help with hemp’s adoption, especially with ensuring farmers didn’t need to part with extra cash for specialized tools. Dakota Hemp owner, John Peterson, revealed that farmers could use equipment they already had on their farms to cultivate this crop. For example, hemp can be planted using a grain drill, which is used to plant crops such as wheat, alfalfa and soybean.
The sprayers needed before the hemp can sprout are also the same ones used for other crops. Once this phase has passed, all that’s left is harvesting, as the state hasn’t approved any chemicals to be used on hemp once the crop sprouts.
The state also covers hemp under multiperil crop insurance, which assuages any fears farmers may have about moving into hemp. Additionally, the crop grows well with other plants.
Meyer explained that the plant worked great as a rotational crop with soybeans and corn, adding that it offered returns to the farmer that were comparable to the returns they generated from soybeans and corn. Furthermore, hemp’s period of growth is relatively short, adding up to about four months on average.
Peterson added that the crop fit right in, noting that if the crop was planted right around soybean and corn time, farmers could harvest it even before they harvested soybeans.
It should be noted that during harvest, different tools would be needed, including a bean head. Peterson also stated that farmers who planted hemp even earlier would have enough time after harvest to plant a fall seeded crop such as winter rye or winter wheat.
As more farmers warm up to the growing of hemp due to the many benefits in its cultivation cycle, cannabis companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) could broaden their use of this plant in their product offerings.
About HempWire
HempWire (“HW”) is a specialized communications platform with a focus on hemp-related news, information, and the latest developments in the hemp sector. HempWire is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, HW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, HW brings its clients unparalleled recognition and brand awareness. HW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from HempWire, text “HempWire” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.HempWire.com
Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.HempWire.com/Disclaimer
HempWire
Denver, Colorado
www.HempWire.com
303.498.7722 Office
[email protected]
HempWire is powered by IBN
