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Top US farm groups urged Congress to pass a modernized farm bill this year, but a forum at Minnesota Farmfest indicated that an extension is more likely. Senator Tina Smith said there is not enough time left in the legislative calendar for a full bill.
A short-term extension would keep current farm programs in place, so the lack of a new bill has little immediate effect on feed grain or oilseed supply and prices.
agweek.comNoah FishAug 15, 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, SOY 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 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.
