# Key Provisions in House Farm Bill - Pro Farmer

> A Farm Journal summary of the House Farm, Food, and National Security Act of 2024 outlines changes to crop insurance, including a Supplemental Coverage Option covering 90% of expected county yield. The bill raises crop reference prices by 10-20% across commodities and modifies payment limits and trade promotion programs. Chairman Thompson said it would clear the May 23 committee markup.

- Date: 2024-05-17 · published 2024-05-17T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/30234-key-provisions-in-house-farm-bill-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 PLC support and could keep more base acres in production, which is bearish for prices over time, though the bill is far from law.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-08-27 | [Trump farm bailout to provide $6 billion in initial relief](https://feedsoft.ai/events/63524-trump-farm-bailout-to-provide-6-billion-in-initial-relief.md) | +0.5% | +0.9% |
| CORN | 2025-06-04 | [One Big Beautiful Bill Act: Agricultural Provisions \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/24187-one-big-beautiful-bill-act-agricultural-provisions-farm-bureau-intel-markets.md) | -1.9% | -0.9% |
| CORN | 2024-02-12 | [What are reference prices and why are they in the farm bill?](https://feedsoft.ai/events/31656-what-are-reference-prices-and-why-are-they-in-the-farm-bill.md) | -1.8% | +3.5% |
| CORN | 2025-06-23 | [One Big Beautiful Bill Act (H.R. 1): Title I, Farm Safety Net and Miscellaneous Provisions - EveryCRSReport.com](https://feedsoft.ai/events/24185-one-big-beautiful-bill-act-h-r-1-title-i-farm-safety-net-and-miscellaneous.md) | -1.5% | -3.7% |
| CORN | 2021-08-23 | [After the Bell \| August 23, 2021 - Pro Farmer](https://feedsoft.ai/events/10058-after-the-bell-august-23-2021-pro-farmer.md) | +2.3% | -5.5% |
| SOY | 2018-08-27 | [Trump farm bailout to provide $6 billion in initial relief](https://feedsoft.ai/events/63524-trump-farm-bailout-to-provide-6-billion-in-initial-relief.md) | -1.1% | -0.1% |
| SOY | 2025-06-04 | [One Big Beautiful Bill Act: Agricultural Provisions \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/24187-one-big-beautiful-bill-act-agricultural-provisions-farm-bureau-intel-markets.md) | +1.6% | +0.9% |
| SOY | 2024-02-12 | [What are reference prices and why are they in the farm bill?](https://feedsoft.ai/events/31656-what-are-reference-prices-and-why-are-they-in-the-farm-bill.md) | -1.0% | -1.6% |

## Sources

- profarmer.com: https://www.profarmer.com/news/policy-update/key-provisions-house-farm-bill

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