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Senate Republicans unveiled a $1.51 trillion farm bill framework that seeks a 15% average increase in crop reference prices. The framework will not be formally introduced because Republicans are the Senate minority, and it proposes tighter SNAP benefit rules and doubled funding for agricultural research and trade promotion.
Higher reference prices would raise the income floor for program crops, supporting acreage and feed grain supply over time. The proposal is not law and faces a partisan split, so its price impact is limited.
profarmer.comJim WiesemeyerJun 11, 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.
