# What are reference prices and why are they in the farm bill?

> An opinion piece argues that the farm bill debate over reference prices and crop subsidies is stalling renegotiation in Congress. It notes that commodity prices for corn, soybeans, rice, wheat and cotton have been high but economists expect them to fall in coming years. The piece also cites rising input costs for seed, fertilizer, pesticides and equipment.

- Date: 2024-02-12 · published 2024-02-12T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/31656-what-are-reference-prices-and-why-are-they-in-the-farm-bill
- 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

Expectations of falling commodity prices and continued row crop overproduction are a bearish backdrop for corn, soybeans and wheat. Subsidy design affects how much acreage stays in production, but the article gives no near-term price catalyst.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-05-17 | [Key Provisions in House Farm Bill - Pro Farmer](https://feedsoft.ai/events/30234-key-provisions-in-house-farm-bill-pro-farmer.md) | +1.2% | +6.0% |
| CORN | 2018-08-27 | [Trump farm bailout to provide $6 billion in initial relief](https://feedsoft.ai/events/63524-trump-farm-bailout-to-provide-6-billion-in-initial-relief.md) | +0.5% | +0.9% |
| CORN | 2019-03-18 | [Everything you need to know about the farm bill in one summit \| CFAES](https://feedsoft.ai/events/60074-everything-you-need-to-know-about-the-farm-bill-in-one-summit-cfaes.md) | +2.6% | -3.5% |
| CORN | 2018-05-21 | [Waiver Wire: Why is the biofuels industry up in arms about oil refinery waivers?  : The Daily Digest](https://feedsoft.ai/events/64918-waiver-wire-why-is-the-biofuels-industry-up-in-arms-about-oil-refinery-waivers.md) | +0.4% | -6.9% |
| CORN | 2018-05-04 | [How will farm bill debate settle PLC vs. ARC?](https://feedsoft.ai/events/65016-how-will-farm-bill-debate-settle-plc-vs-arc.md) | +0.8% | +0.6% |
| SOY | 2026-01-15 | [Top Biofuel Priorities That Will Impact Farmers](https://feedsoft.ai/events/15060-top-biofuel-priorities-that-will-impact-farmers.md) | +3.3% | +10.4% |
| SOY | 2024-05-17 | [Key Provisions in House Farm Bill - Pro Farmer](https://feedsoft.ai/events/30234-key-provisions-in-house-farm-bill-pro-farmer.md) | +1.9% | -3.0% |
| SOY | 2026-08-25 | [The Policy that May Cause $1 billion in Lost Revenue for Farmers](https://feedsoft.ai/events/15002-the-policy-that-may-cause-1-billion-in-lost-revenue-for-farmers.md) | +4.9% | +9.0% |

## Sources

- barnraisingmedia.com: https://barnraisingmedia.com/column/the-real-debate-holding-up-the-farm-bill-is-row-crop-farm-safety-net-overproduction/

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