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A farmdoc daily article examines the ARC and PLC row-crop payment programs in Title I of the farm bill, as part of a series on farm policy design. It notes that Congress is in recess and that an extension will likely be needed.
ARC and PLC payments influence planting decisions and farm income support for corn, soybeans and wheat, but the article offers analysis rather than a new price-moving change.
farmdocdaily.illinois.eduLee BynumAug 24, 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.
