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The House Agriculture Committee advanced the Republican farm bill 33-21 after a marathon markup, with four Democrats voting in favor. The $1.5 trillion, 942-page bill would set policy for five years, raising safety-net payments for some commodity crops and expanding disaster assistance.
Democrats opposed SNAP cuts, and the bill faces a difficult path in the Senate.
Committee passage advances policy that would raise commodity support and could sustain acreage, a mildly bearish long-run factor, though the final outcome is uncertain.
agriculture.comOhio Capital JournalMay 28, 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.
