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Michigan Farm Bureau reports the US agricultural trade deficit has reached $42.5 billion, and the expired farm bill extension threatens export promotion programs under Title III. Programs like MAP and FMD fund market development for US farm exports.
Reduced export promotion funding could weaken long-run US farm export demand, a mild bearish factor for US grain and oilseed prices.
michiganfarmnews.comAFBF, Farm News MediaOct 25, 2024After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% 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.
