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Agri-Pulse and Successful Farming report that top House and Senate Agriculture committee staff continue private talks on a new farm bill. A stopgap spending deal funds the government until December 20 and extends USDA's mandatory livestock reporting and Food for Peace, but does not extend the 2018 farm bill.
Lapsing farm bill authority and the stopgap deal create policy uncertainty, but the story does not change current supply or demand for feed grains.
agriculture.comFarmdocSep 23, 2024After 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.
