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Pro Farmer reports a renewed debate in Congress about returning farm program payments to planted acres rather than base acres. The piece also covers the debt-limit vote timing and other unrelated market and political items.
A switch to planted-acre payments would change incentives to plant specific crops, which could marginally shift corn and soybean acreage expectations, though the proposal is far from enacted.
profarmer.comJim WiesemeyerApr 21, 2023After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
