• Hemp production became federally legal in the United States with the 2018 Farm Bill, which removed hemp from the DEA’s Controlled Substances list and defined it as cannabis with THC levels below 0.3%
• Hemp producers can access USDA farm programs including Multi-Peril Crop Insurance, FSA loans, and conservation programs starting from 2020
• Hemp cultivation requires well-drained soils with pH 6.0-7.0, planting from May to early June, and specialized equipment for different production types (fiber, grain, or CBD)
• The global hemp-based products market was valued at $1.8 billion in 2022 and is projected to reach $16.2 billion by 2033
• Hemp production faces challenges including underdeveloped supply chains, limited processing facilities, and varying state regulations despite federal legalization

The transformation of hemp from a federally prohibited substance to a legal agricultural commodity represents one of the most significant changes in American agriculture in recent decades. With the passage of the 2018 Farm Bill, hemp producers across the United States gained access to legitimate markets, federal support programs, and the opportunity to participate in a rapidly growing industry.

Hemp production offers farmers a potentially lucrative crop diversification option, but success requires understanding complex regulations, specialized growing techniques, and evolving market conditions. The hemp industry has experienced remarkable growth, with market projections indicating substantial expansion opportunities for informed producers who can navigate the regulatory landscape effectively.