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A farmdoc daily midsummer review says Farm Bill reauthorization in 2024 is unlikely, with no substantive congressional progress since the House committee reported its bill in May. It also notes that CBO released June 2024 baseline projections.
Stalled farm legislation keeps existing programs in place and creates no immediate supply or demand shift for feed commodities.
farmdocdaily.illinois.eduHongxia JiaoJul 18, 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.
