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National commodity groups including corn, soybean, wheat, sorghum, rice and others urged the House Agriculture Committee to expand the ag safety net. They asked for protected crop insurance, higher loan rates and changes to ARC and PLC.
The 2023 PLC reference prices are $3.70 for corn and $8.40 for soybeans.
Higher reference prices would support farm income but would not change near-term supply or demand, so the price effect is limited to planting-decision signals.
farmweeknow.comTIMOTHY EGGERT FarmWeekApr 27, 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.
After 137 past neutral policy events, Wheat (SRW) moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), and +0.3% 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.
