Texas hemp growers are asking Governor Greg Abbott to veto a bill that would ban hemp sales in the state.
Industry groups collected nearly 150,000 signatures over the bill, which bans hemp-derived products. The Texas Hemp Business Council warns that if signed into law, it could wipe out $4 billion in revenue each year, along with more than 50,000 jobs.
They also warn a ban could open the door for more unregulated products in the state.
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The action follows the March 13 ruling by the U.S. Court of Appeals for the Ninth Circuit, which upheld a district court decision denying a preliminary injunction that sought to halt the exchange.
Strong exports support ethanol margins and corn demand.
Export competition remains heavy despite solid trade.
