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Congress is struggling to renew the five-year farm bill, with a dispute over whether to freeze SNAP benefits at current levels. House Republicans want the freeze to cut spending, while Democrats say it would strip food from needy families.
Senator Stabenow urged a bipartisan path that also expands crop subsidies and crop insurance.
Farm bill outcomes determine future subsidy and reference price levels, which shape planting incentives for corn, soybeans and wheat. Gridlock keeps this support uncertain but is unlikely to move prices near term.
upi.comMike HeuerJun 21, 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.
