# [2024-02-13] Reviewing the February 2024 Baseline for USDA Farm and...

> The Congressional Budget Office's February 2024 baseline projects USDA mandatory farm program and SNAP outlays at $1.46 trillion for fiscal 2025 to 2034. That is about $59 billion, or 3.9%, below the May 2023 baseline. SNAP accounts for nearly 80% of the projected spending.

- Date: 2024-02-13 · published 2024-02-13T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/31653-2024-02-13-reviewing-the-february-2024-baseline-for-usda-farm-and
- 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

Lower projected farm program spending points to tighter room for commodity and crop insurance support in the next farm bill. It has little direct effect on feed grain or protein prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-02-15 | [Farm Bill 2024: Reviewing A February Data Blitz and Tough Realities - farmdoc daily](https://feedsoft.ai/events/31654-farm-bill-2024-reviewing-a-february-data-blitz-and-tough-realities-farmdoc-daily.md) | +0.3% | +4.4% |
| CORN | 2018-01-05 | [IFES 2017: Farm Policy Review and Outlook for the 2018 Farm Bill - farmdoc daily](https://feedsoft.ai/events/66971-ifes-2017-farm-policy-review-and-outlook-for-the-2018-farm-bill-farmdoc-daily.md) | -0.4% | +2.4% |
| CORN | 2022-08-12 | [Reviewing the Inflation Reduction Act of 2022; Part 2 - farmdoc daily](https://feedsoft.ai/events/40027-reviewing-the-inflation-reduction-act-of-2022-part-2-farmdoc-daily.md) | -0.7% | -1.6% |
| CORN | 2024-05-21 | [What They’re Saying: The Farm, Food, and National Security Act of 2024 - Farm Policy Facts](https://feedsoft.ai/events/30235-what-they-re-saying-the-farm-food-and-national-security-act-of-2024-farm-policy.md) | +3.2% | +3.0% |
| CORN | 2024-07-18 | [Farm Bill 2024: A Mid-Summer’s Review - farmdoc daily](https://feedsoft.ai/events/29255-farm-bill-2024-a-mid-summer-s-review-farmdoc-daily.md) | +2.4% | -0.9% |
| SOY | 2024-02-15 | [Farm Bill 2024: Reviewing A February Data Blitz and Tough Realities - farmdoc daily](https://feedsoft.ai/events/31654-farm-bill-2024-reviewing-a-february-data-blitz-and-tough-realities-farmdoc-daily.md) | -1.9% | +0.9% |
| SOY | 2018-01-05 | [IFES 2017: Farm Policy Review and Outlook for the 2018 Farm Bill - farmdoc daily](https://feedsoft.ai/events/66971-ifes-2017-farm-policy-review-and-outlook-for-the-2018-farm-bill-farmdoc-daily.md) | -2.0% | +2.0% |
| SOY | 2022-08-12 | [Reviewing the Inflation Reduction Act of 2022; Part 2 - farmdoc daily](https://feedsoft.ai/events/40027-reviewing-the-inflation-reduction-act-of-2022-part-2-farmdoc-daily.md) | -12.5% | -12.9% |

## Sources

- agriculture.senate.gov: https://www.agriculture.senate.gov/newsroom/minority-blog/reviewing-the-february-2024-baseline-for-usda-farm-and-nutrition-programs

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