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The Congressional Budget Office scored the House farm bill (R. 8467) at $1.25 trillion over ten years, adding an estimated $33 billion in direct spending versus current law.
Most of the increase is in commodity programs, including Price Loss Coverage and Agricultural Risk Coverage, partly offset by a SNAP Thrifty Food Plan freeze.
Higher PLC and ARC payments could support planted acreage for program crops over time, but the bill has not passed the House floor, so the near-term price effect is minor.
dtnpf.comJerry HagstromAug 3, 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.
