What does the 2018 US Farm Bill mean for hemp?

As of Dec. 12th 2018 The House of Representatives has approved a $867 billion Farm Bill. With this bill comes new legislation concerning hemp, boasting hemp as a lawful agricultural commodity. Senate Majority Leader Mitch McConnell of Kentucky introduced legislation that will allow states to become primary regulators of hemp cultivation; hemp will now be eligible for crop insurance and researchers will be able to apply for federal grants. 
“At a time when farm income is down and growers are struggling, industrial hemp is a bright spot of agriculture’s future,” McConnell told Roll Call.
The Farm Bill allows for cannabinoids derived from cannabis plants (hemp) cultivated under federal/state regulations and by a licensed grower will be legal. These new rulings do NOT mean CBD will be legalized in general. Cannabinoids derived from cannabis grown in any manner excluded by the government mandate will remain a Scheduled I substance under federal law.
By: Jack Child