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A coalition letter signed by the IWF urges the House not to raise reference prices for covered commodities in the farm bill. The letter argues net farm income is at record levels and that larger subsidies would mainly benefit the largest farms.
A decision to hold reference prices flat would leave future farm support unchanged, so it has little direct effect on current feed grain or oilseed supply and prices.
iwf.orgMakenna McCoyMay 1, 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.
