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The Tennessee Farm Bureau outlines the status of the 2023 farm bill, noting that drafting is expected to begin after the August recess. The current bill covers the 2023 crop year and the 2023/24 marketing year, and dairy provisions expire in 2023.
Both Tennessee and American Farm Bureau have formed working groups to advocate for the new legislation.
The legislative timeline remains open, so no immediate change to crop or livestock prices follows from this update. Buyers should watch for drafts, which would signal future changes to commodity support and trade programs.
tnfarmbureau.orgJul 27, 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.
