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BrownfieldAgNews reports:

In its first season after legalization in the 2018 Farm Bill, industrial hemp prices have been cut by at least half.

Chase Hubbard is a market analyst with The Jacobsen which has been following hemp commodity prices since July.

"Pricing definitely collapsed over late summer moving into harvest."

He tells Brownfield expectations for an oversupply led to significant price drops and while it has stabilized some, a floor has yet to be discovered.

"The strict THC rules may create an environment of scarcity and that may drive prices in the second quarter of this year, but we don't expect them to return to levels that we saw prior to the summer."

Hubbard believes areas with infrastructure, like CBD extractors, or with similar commodities for fiber and grain production will likely specialize within hemp processing and cause consolidation once the industry starts to establish itself.

Hemp can now be grown in 46 states in the U.S.

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