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The 2018 farm bill expired in 2023 and has been extended one year at a time since then. The article questions whether Congress can pass a comprehensive five-year farm bill in 2026, after the 2025 budget law cut SNAP funding and expanded commodity subsidies.
Uncertainty over farm program design affects long-term acreage and subsidy support, but it does not create a near-term supply or demand shift for feed markets.
theconversation.comChristopher Neubert, Kathleen MerriganJan 7, 2026After 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.
