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Debate over a new US farm bill has soured, with lawmakers divided over commodity support. One lawmaker has set a firm requirement that any bill raise reference prices for commodity programs.
Funding that increase would require cuts to the nutrition or conservation titles.
Higher reference prices would lift the government safety net for grain and oilseed growers, which could support planting decisions. Unresolved funding trade-offs keep the policy outlook uncertain for feed grain and oilseed markets.
politico.comGarrett DownsDec 18, 2023After 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.
