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The Hill reports Congress is unlikely to pass a new farm bill this year, with House Republicans pushing to extend subsidies for three Southern crops at the potential cost of food aid and conservation funding. Current farm bill funding expires at the end of the year and an extension is likely.
Uncertainty over farm bill funding and crop subsidy design affects producer planting outlooks, but the price effect for feed commodities is limited.
thehill.comSaul ElbeinNov 6, 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.
