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Pat Westhoff of FAPRI says low commodity prices could make existing farm programs such as ARC and PLC more likely to pay out. FAPRI expects total payments to stay below $1bn this year, rising until 2027/28.
Farm program payments support producers' income during low prices, which can slow acreage cuts and keep supply ample. The effect on feed prices is small.
brownfieldagnews.comCarah HartMar 20, 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.
