The thought is, legalized cannabis will shift farming to meet the legal cannabis demand of the market (which could be the biggest cash crop in the US). In doing so, corn, tobacco, etc... growers will have a greater % shift to growing hemp and cannabis (a good thing IMHO).

But, there is an externality accompanied. Less farmers to produce corn and tobacco will (in the short run) translate into lower supply of said crops, therefore accompanying a price increase until the market can reach some sort of equilibrium (long run).

What we have to ask ourselves is what effect will this have on tax revenues and subsidies associated with increased prices on consumer staple commodities.

If you spend $100 bucks a week on high grade dro, it will most likely be good for you. But if you are not a cannabis person, then the increased costs will undoubtedly transfer (although not at the same rate).

Which is the main reason cannabis has yet to be legalized nationally. Producders and consumers are not willing to allow the disequalibria persit on the short run.