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The American Soybean Association's vice president says it is unclear whether lawmakers will add funding to raise reference prices in the next farm bill. He said ARC and PLC did not trigger during the trade war price drop, which pushed farmers toward ad hoc aid.
Uncertainty over reference price funding affects farmer planting and marketing expectations for soybeans and corn, though the comments do not change current supply or demand.
brownfieldagnews.comCarah HartAug 30, 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.
