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USDA Secretary Tom Vilsack told AgriTalk that farm bill negotiations are not close because Republican proposals need more than $50 billion in added funding per CBO estimates. He said the plans rely on cuts to nutrition assistance, which Democrats treat as a red line.
Unfunded reference price and crop insurance increases would need new money or SNAP cuts, and the stalemate delays the support program changes that affect crop planting decisions. Price impact is limited for now.
agweb.comJim WiesemeyerJun 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.
