◂ Event Timeline

Jul 3, 2026POLICYUS

The Unfinished Farm Bill: First Reading of Proposed Senate Legislation - farmdoc daily

John Coppess reviews Senator Boozman's June 23 legislative text for the unfinished farm bill, called Farm Bill 2.0. The article focuses on proposed conservation cuts and the fact that Congress has not reauthorized the traditional Farm Bill.

WHY IT MATTERS

Farm bill policy shapes conservation and commodity support, which can influence acreage decisions over time. Near-term price impact is limited.

AFFECTSCorn Soybeans Wheat (SRW)

SOURCE
farmdocdaily.illinois.eduHongxia JiaoJul 3, 2026

Price reaction & history

Cornno directional readSO FAR1d +2.0%5d +1.6%20d +1.6%

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.

Apr 26, 2018Initial Review of the House 2018 Farm Bill - farmdoc daily+1.5%
Aug 12, 2022Reviewing the Inflation Reduction Act of 2022; Part 2 - farmdoc daily-0.7%
Aug 22, 2025The Reconciliation Farm Bill: Top Five Most Problematic Changes to Farm Policy, #3 - farmdoc daily-0.6%
May 15, 2024Statutory Reference Prices and the Next Farm Bill - farmdoc daily+0.8%
May 15, 2025Reviewing the House Agriculture Committee’s Reconciliation Bill - farmdoc daily+4.4%

Soybeansno directional readSO FAR1d +4.5%5d +5.7%20d +3.6%

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.

Apr 26, 2018Initial Review of the House 2018 Farm Bill - farmdoc daily+0.5%
Aug 12, 2022Reviewing the Inflation Reduction Act of 2022; Part 2 - farmdoc daily-12.5%
Aug 22, 2025The Reconciliation Farm Bill: Top Five Most Problematic Changes to Farm Policy, #3 - farmdoc daily-0.6%
May 15, 2024Statutory Reference Prices and the Next Farm Bill - farmdoc daily+3.1%
May 15, 2025Reviewing the House Agriculture Committee’s Reconciliation Bill - farmdoc daily-0.4%

Wheat (SRW)no directional readSO FAR1d -0.5%5d +0.2%20d +1.3%

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.

Apr 26, 2018Initial Review of the House 2018 Farm Bill - farmdoc daily+2.9%
Aug 12, 2022Reviewing the Inflation Reduction Act of 2022; Part 2 - farmdoc daily-2.3%
May 15, 2024Statutory Reference Prices and the Next Farm Bill - farmdoc daily+19.6%
May 15, 2025Reviewing the House Agriculture Committee’s Reconciliation Bill - farmdoc daily-3.9%
Sep 18, 2019Understanding the Farm Bill - National Press Foundation | NPF+2.5%

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.

Corn CORN · GP ▸

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Soybeans SOY · GP ▸

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