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A GAO report found USDA provided $161 billion in financial assistance to agricultural producers for fiscal years 2019 through 2023. About 42% went to producers hit by trade disruptions, the pandemic and natural disasters, and Texas, North Dakota and Iowa received the most.
The report reviews past spending rather than announcing new aid.
The report documents the scale of past government support that has cushioned farm margins, which helps explain sustained acreage and feed demand. It does not introduce new supply or demand changes, so price impact is minimal.
gao.govU.S. Government Accountability OfficeDec 17, 2024After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), 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.
