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USDA Secretary Tom Vilsack testified before the House Agriculture Appropriations Subcommittee on the FY2025 budget request of $25.1bn, up $2.2bn. Lawmakers questioned WIC funding, and the hearing also covered biofuels, China, farm income and ag aid.
The hearing signals the policy direction for USDA spending, including farm aid and biofuel programs that can affect feed grain and oilseed demand. It produces no immediate price change.
profarmer.comJim WiesemeyerMar 22, 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.
