President Trump Signs Farm Bill, Legalizing Hemp
President Trump signed the 2018 Farm Bill on Thursday afternoon, legalizing the production of industrial hemp after decades of the crop being caught up in broader cannabis prohibition.
The hemp provision, which was secured in the final version of the bill, will allow farmers to apply to cultivate and sell the crop. The industry will be lightly regulated by the U.S. Department of Agriculture.
One other positive development for farmers is that the bill stipulates that the hemp will be covered under the Federal Crop Insurance Act, so in the event that a cultivator experiences crop loss, they will be entitled to insurance coverage.
Although there was no specific mention of hemp when Trump signed the bill, he called it a “great honor to sign the 2018 Farm Bill, a very special and important piece of legislation.”
He added, “It opens new markets for agriculture all over the world.”