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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China is making strategic moves by purchasing more soybeans from Argentina and may soon follow the EU and reopen its market to Brazilian chicken exports.
Farmers should watch for soybean export rebounds with harvest, while corn and wheat shipments remain strong and sorghum demand struggles.
Rollins says the new trade relationship with Taiwan, which is committed to buying a significant amount of U.S. soy, could not come at a better time for farmers facing financial strain.
The three-point plan was announced during remarks at the annual meeting of the National Association of State Departments of Agriculture.
According to the most recent version of the Household Food Security Report for 2022-2023, food insecurity is on the rise in the U.S.
