
FarmWeek reports that the current extension of the 2018 farm bill is set to expire Sept. 30, and the House has recessed until after the Nov.
3 midterms. If Congress does not act by Dec.
31, USDA would revert to permanent law with 1930s and 1940s price formulas.
A lapse would leave soybeans, canola and sunflowers without a safety net, which could change planting and marketing choices. The deadline is months away, so the near-term price impact is limited.
After 1,623 past policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% over 20.
After 1,019 past policy events, Wheat (SRW) moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.5%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.