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Agriculture Secretary Tom Vilsack urged Congress to find creative funding for the farm bill at the AFBF meeting in Salt Lake City. He also announced $157 million for on-farm renewable energy and $50 million to boost domestic fertilizer production.
Net farm income fell about 18% in 2023.
The fertilizer grant is a small supply-side measure and the farm bill debate is unresolved, so feed-ingredient prices are unlikely to move from this news.
dtnpf.comChris ClaytonJan 22, 2024After 26 past neutral policy events, Urea moved a median -1.0% over 5 sessions (27% higher; middle half -4.1% to +0.6%), and -2.5% 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.
