
The Senate Agriculture Committee released a discussion draft of the farm bill, chaired by John Boozman. The draft expands credit access, specialty crop investment, fertilizer market transparency and research and conservation programs.
It omits a Proposition 12 fix and pesticide labeling provisions.
The bill still must clear committee and reconcile with the House version, so near-term price effects are limited. Fertilizer market transparency provisions could matter for input costs over time.
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.