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USDA announced $2.7 billion through the Commodity Credit Corporation to support farmers, school meal programs and emergency food providers. About $1.3 billion will buy foods for schools and nearly $1 billion will fund commodity orders for emergency food providers.
The department also said up to $400 million in grants will be available for domestic fertilizer production.
Government purchases add demand for specific food commodities and the fertilizer grants aim to lower input costs, but the scale is modest relative to overall grain and oilseed markets.
usda.govJun 23, 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.
