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Senator John Thune said the Senate Agriculture Committee will need more time than the September 30 deadline to finish the farm bill. If no action is taken, the 2018 bill expires, unless a short-term extension is passed.
Thune also said he hopes to see improvements to the ARC and PLC safety-net programs.
A delay makes a short-term extension more likely, which keeps existing support programs in place and avoids an immediate change in market conditions. Any changes to safety-net payments would take time and funding to materialize.
agweek.comCaleb BarberJul 28, 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.
