Farming with a Fowl Limp?

Hemp could find clarity in the lame duck.

Daily Recap

House leaders are pressing for a farm bill deal in the lame duck, the top Democrat on the House Agriculture Committee told members in a letter obtained by Bloomberg.

“We need pressure to come together” on the mammoth legislation, which spans five years, top committee Democrat David Scott (D-GA) said. By objecting to another one-year extension, agriculture leaders are projecting confidence in a potential bipartisan agreement in this Congress.

The bill could latch onto must-pass legislation like the National Defense Authorization Act or a year-end omnibus, Scott said. Any lame duck bill would need to be bipartisan enough to make it through the Democratic Senate and White House.

Show Me the Money

If former President Trump is serious about his recently stated support for a cannabis banking bill, he needs to “bring us some Republican senators” to advance it through the chamber, a Democratic senator told Marijuana Moment.

Senate Banking Committee Chairman Sherrod Brown (D-OH), as well as Sens. John Hickenlooper (D-CO) and Mike Braun (R-IN), weighed in on the cannabis banking issue in interviews on Tuesday, though none were aware at the time that Trump had endorsed the policy change days earlier.

Sparty Party

Michigan’s licensed cannabis dispensaries set a monthly record of $295 million in sales in August, according to new data released on Sept. 11. This sales benchmark is $6.6 million more than the previous monthly record from March.

Michigan also broke a monthly sales record for most adult-use flower sold at 100,894 pounds in August, while the average price for adult-use flower remained near an all-time low of $80.14 per ounce, according to the CRA.

The Pence Fence

The Democratic candidate for Indiana governor released her Commonsense Cannabis Legalization Plan and called for the legalization of cannabis in a “responsible and well-regulated industry.”

“Indiana is an island of prohibition surrounded by states with legal cannabis industries. By taking a responsible, phased approach, we can ensure that our state is prepared for full adult-use legalization while immediately providing relief through medical marijuana.” Jennifer McCormick, candidate for Indiana Gov. (D)

Stocks & Stuff

In was another thin, uninspiring session in Cannaland as technical pressures, coupled with the custody pergatory, left the sector on it’s heels. U.S. cannabis ETF MSOS lost 1% for the session as the post-Trump mojo continued to fade.

Below, we’ll top-line today’s price action, dig into the sector-specific news, share the results of a cannabis investor sentiment survey, explore which companies have federal reform torque and take a poll of the Florida polls ahead of the upcoming referendum.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $43M

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