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House Agriculture Committee Chairman GT Thompson and Ranking Member David Scott emphasized the need for a new farm bill during a hearing with Agriculture Secretary Tom Vilsack. Thompson said the bill should expand market access and trade promotion while keeping nutrition spending in check.
He also criticized rising fertilizer import reliance and high input costs.
Calls for trade promotion and reduced fertilizer import dependence signal future policy direction that could affect input costs. Nothing in the hearing changes current feed grain or protein supply and demand.
texasfarmbureau.orgEmmy PowellFeb 26, 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.
