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A letter from 66 Republican lawmakers criticized USDA's payment formula for 2022 Emergency Relief Program aid, arguing it caps losses for the hardest-hit farms. USDA says Congress provided $3.74 billion against more than $10 billion in losses.
The department notes about 172,000 of 210,000 applicants will receive larger payments than otherwise.
Disaster payments affect farm cash flow and can influence how much producers store or sell grain. The dispute has limited direct effect on feed grain or oilseed prices.
dtnpf.comChris ClaytonDec 5, 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, SOY 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 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.
