Okay, so from what I can tell this is the common phalaris arundinacea.. which does contain valuables. The bladed leaves are what you are mainly after. However, due to the high range of other unknown compounds that could be detected within wild phalaris, it is best to grow your own.
Arundinacea has been found to contain beta carbolines and tryptamines. The amount of material needed to work with this one is quite substantial.
Try growing phalaris brachystachys or aquatica which have been found to contain higher levels of tryptamines. You can do more research on phalaris within the search engine as this topic has been covered already many times.
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