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At the AFBF convention in Puerto Rico, congressional aides discussed the 2023 farm bill outlook. Farmers raised concerns about higher input costs and interest rates, and about falling commodity prices.
Aides also noted that China's COVID reopening could strain global supply chains.
Lower commodity prices and higher input costs squeeze farm margins and may push demand for a cost-of-production safety net. Those pressures do not directly move feed prices today.
thefencepost.comJerry Hagstrom, The Hagstrom ReportJan 9, 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.
