# Boozman Unveils Senate GOP Farm Bill Framework - Pro Farmer

> 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.

- Date: 2024-06-11 · published 2024-06-11T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/29761-boozman-unveils-senate-gop-farm-bill-framework-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

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.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-10-02 | [Senate Budget Plan Spares Farm Bill](https://feedsoft.ai/events/68457-senate-budget-plan-spares-farm-bill.md) | +2.7% | +1.7% |
| CORN | 2024-03-19 | [New Farm Bill in Slow Lane as Ag Sector Awaits House GOP Plan, with Senate to Follow - Pro Farmer](https://feedsoft.ai/events/31195-new-farm-bill-in-slow-lane-as-ag-sector-awaits-house-gop-plan-with-senate-to.md) | -1.1% | -6.2% |
| CORN | 2024-11-18 | [Scoop: Senate Democrats’ farm bill plans](https://feedsoft.ai/events/27382-scoop-senate-democrats-farm-bill-plans.md) | -0.1% | +2.7% |
| CORN | 2026-09-01 | [Senate Ag Committee fails to advance farm bill](https://feedsoft.ai/events/17892-senate-ag-committee-fails-to-advance-farm-bill.md) | +0.2% | +4.5% |
| CORN | 2024-05-17 | [Key Provisions in House Farm Bill - Pro Farmer](https://feedsoft.ai/events/30234-key-provisions-in-house-farm-bill-pro-farmer.md) | +1.2% | +6.0% |
| SOY | 2017-10-02 | [Senate Budget Plan Spares Farm Bill](https://feedsoft.ai/events/68457-senate-budget-plan-spares-farm-bill.md) | +0.4% | +0.7% |
| SOY | 2024-03-19 | [New Farm Bill in Slow Lane as Ag Sector Awaits House GOP Plan, with Senate to Follow - Pro Farmer](https://feedsoft.ai/events/31195-new-farm-bill-in-slow-lane-as-ag-sector-awaits-house-gop-plan-with-senate-to.md) | +1.8% | -3.6% |
| SOY | 2024-11-18 | [Scoop: Senate Democrats’ farm bill plans](https://feedsoft.ai/events/27382-scoop-senate-democrats-farm-bill-plans.md) | -1.5% | -1.7% |

## Sources

- profarmer.com: https://www.profarmer.com/news/policy-update/boozman-unveils-senate-gop-farm-bill-framework

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.