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Democratic leaders on the House Agriculture Committee said the farm bill being negotiated in Congress must keep funding for climate-friendly farming and federal food benefits to win their votes. The last farm bill expired in September and was extended one year in November's spending deal.
Democrats also want lower input costs for farmers and more support for renewable energy and small-scale farmers.
The outcome sets future US farm program spending and conservation funding, but the debate is unlikely to move grain or feed prices in the near term. Prolonged uncertainty mainly affects farm policy expectations rather than current supply and demand.
reuters.comLeah DouglasFeb 7, 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.
