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The USDA will release $2.3 billion for international food aid and export competitiveness, with about $1.3 billion for a new Regional Agricultural Promotion Program. Another $1 billion will allow purchases of surplus U.S. commodities for global hunger relief.
The move follows a request from Senate agriculture leaders.
Surplus purchases for food aid and new export promotion funding can support U.S. grain and commodity demand. The effect on prices is likely modest.
agriculturedive.comSarah ZimmermanOct 25, 2023After 1,982 past trade events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +1.6%), and +0.4% over 20.
After 1,802 past trade events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.7%), and +0.7% over 20.
After 1,079 past trade events, Wheat (SRW) moved a median -0.0% over 5 sessions (49% higher; middle half -1.6% to +1.7%), 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.
