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The National Corn Growers Association notes that Speaker Mike Johnson's election could help advance a farm bill reauthorization after the law expired in late September. The column also mentions a Commerce Department decision to cut duties on Moroccan phosphate fertilizer imports from 19.7% to 2.12%.
The lower phosphate duty could ease fertilizer costs for US farmers, a modest bearish factor for input prices, while farm bill prospects have little near-term effect on grain prices.
incornandsoy.orgAmie SimpsonNov 24, 2023After 50 past bearish policy events, DAP moved a median +0.9% over 5 sessions (62% higher; middle half -0.1% to +1.6%), and +0.9% 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.
