◂ Event Timeline

Feb 15, 2023POLICYUS

McCarthy, lawmakers hear appeals for farm bill market aid, risk management

House Speaker Kevin McCarthy attended a House Agriculture Committee farm bill listening session at the World Ag Expo in Tulare, California. California groups requested expanded crop insurance, disaster aid, specialty crop research and foreign market development funding.

WHY IT MATTERS

The session shows farm bill priorities forming, especially for specialty crops and dairy, but it does not change near-term supply or demand for feed commodities.

AFFECTSCorn Soybeans Wheat (SRW)

SOURCE
agri-pulse.comPhilip Brasher, Brad HookerFeb 15, 2023

Price reaction & history

Cornno directional readSO FAR1d -0.5%5d -0.3%20d -5.3%

After 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.

Mar 9, 2023House Ag makes case for new farm bill funding | Agri-Pulse Communications, Inc.-1.0%
Jun 26, 2020Daybreak: June 26: Key lawmaker calls for new farm bill | 2020-06-26 | Agri-Pulse Communications, Inc.+4.6%
Jan 17, 2024Poll: Farmers count on aid in new farm bill, back SNAP cut | Agri-Pulse Communications, Inc.+0.2%
Jun 16, 2023Payment limits to be reconsidered in Farm Bill | Agri-Pulse Communications, Inc.+2.2%
Nov 30, 2016Farm bill wheels starting to turn | Agri-Pulse Communications, Inc.+4.0%

Soybeansno directional readSO FAR1d -0.8%5d +0.1%20d -3.1%

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.

Mar 9, 2023House Ag makes case for new farm bill funding | Agri-Pulse Communications, Inc.-2.5%
Jun 26, 2020Daybreak: June 26: Key lawmaker calls for new farm bill | 2020-06-26 | Agri-Pulse Communications, Inc.+2.7%
Jan 17, 2024Poll: Farmers count on aid in new farm bill, back SNAP cut | Agri-Pulse Communications, Inc.+1.0%
Jun 16, 2023Payment limits to be reconsidered in Farm Bill | Agri-Pulse Communications, Inc.+4.6%
Apr 29, 2022Senate Ag launches farm bill hearings | 2022-04-29 | Agri-Pulse Communications, Inc.-1.6%

Wheat (SRW)no directional readSO FAR1d -0.4%5d -1.4%20d -7.1%

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.

Mar 9, 2023House Ag makes case for new farm bill funding | Agri-Pulse Communications, Inc.-0.2%
Jan 17, 2024Poll: Farmers count on aid in new farm bill, back SNAP cut | Agri-Pulse Communications, Inc.-0.4%
Jun 16, 2023Payment limits to be reconsidered in Farm Bill | Agri-Pulse Communications, Inc.+3.5%
Nov 30, 2016Farm bill wheels starting to turn | Agri-Pulse Communications, Inc.+3.7%
Jul 8, 2020Farm programs in play as lawmakers look to 2021 | 2020-07-07 | Agri-Pulse Communications, Inc.+0.7%

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.

Corn CORN · GP ▸

——— · ·

Soybeans SOY · GP ▸

——— · ·

Loading…