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Texas A&M economist Joe Outlaw says Congress will need about $20 billion more to raise reference prices if a new farm bill is to pass by year-end. He suggests reallocating Inflation Reduction Act conservation funds, and says an extension of the current bill is likely if no money is found.
Funding uncertainty and a likely extension would keep current commodity program levels in place, which limits near-term price impact.
brownfieldagnews.comCarah HartApr 18, 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, SOY 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 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.
