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The University of Kentucky extension update says the 2018 Farm Bill was extended to September 30, 2024, and a mid-January continuing resolution averted a shutdown. It adds that budget fights, tax, border and foreign aid debates will crowd out floor time for a new farm bill.
Lack of a new farm bill keeps current PLC and ARC safety-net terms in place, so farm support is unlikely to change feed-grain supply or prices in the near term.
agecon.mgcafe.uky.eduWill Snell, Extension ProfessorJan 30, 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.
