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Texas A&M economist Joe Outlaw said the 2023 farm bill will largely be determined by available funding, with SNAP accounting for over 80% of spending. He noted that agricultural programs are a small share of total government outlays.
Several proposals are under discussion in Washington.
Funding allocations for agricultural programs will shape the level of support available to producers, which affects long-run acreage and production decisions. The immediate price impact for feed markets is minimal.
agrilifetoday.tamu.eduKay LedbetterDec 8, 2022After 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.
