◂ Event Timeline

Oct 24, 2022POLICYUS

Secret Subsidies: Program meant to help farmers in trade war overspent, lacked transparency and compliance checks

An Investigate Midwest report says the USDA Market Facilitation Program paid out more than $23 billion, bypassing Congress by using the Commodity Credit Corporation. A GAO review found the USDA sent over $800 million improperly and lacked adequate eligibility checks.

WHY IT MATTERS

The story concerns past trade-war aid and has no direct effect on current feed supplies or prices. It may affect future policy debates over farm subsidies.

AFFECTSCorn Soybeans Wheat (SRW)

SOURCE
investigatemidwest.orgMadison McVanOct 24, 2022

Price reaction & history

Cornno directional readSO FAR1d -1.0%5d -1.1%20d -1.4%

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.

Nov 4, 2022Secret Subsidies: Program Meant to Help Farmers in Trade War Overspent, Lacked Transparency-0.9%
Oct 18, 2021Harvesting Another Trade War: Ad Hoc Farm Subsidies and Our WTO Commitments - R Street Institute+1.5%
Nov 19, 2018A $12 Billion Program to Help Farmers Stung by Trump’s Trade War Has Aided Few - The New York Times-1.4%
Dec 28, 2021The latest tug-of-war: Billions in farm subsidies and rural aid - POLITICO-0.2%
Jan 5, 2021Pandemic Tops Trade War in USDA Payments to Farmers+3.1%

Soybeansno directional readSO FAR1d -1.7%5d -0.6%20d +2.3%

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.

Nov 4, 2022Secret Subsidies: Program Meant to Help Farmers in Trade War Overspent, Lacked Transparency+0.3%
Oct 18, 2021Harvesting Another Trade War: Ad Hoc Farm Subsidies and Our WTO Commitments - R Street Institute+0.2%
Nov 19, 2018A $12 Billion Program to Help Farmers Stung by Trump’s Trade War Has Aided Few - The New York Times-3.4%
Dec 28, 2021The latest tug-of-war: Billions in farm subsidies and rural aid - POLITICO-1.4%
Jan 5, 2021Pandemic Tops Trade War in USDA Payments to Farmers+4.4%

Wheat (SRW)no directional readSO FAR1d -0.5%5d -0.6%20d +1.5%

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.

Nov 4, 2022Secret Subsidies: Program Meant to Help Farmers in Trade War Overspent, Lacked Transparency+7.3%
Nov 19, 2018A $12 Billion Program to Help Farmers Stung by Trump’s Trade War Has Aided Few - The New York Times-0.1%
Dec 28, 2021The latest tug-of-war: Billions in farm subsidies and rural aid - POLITICO-1.2%
Jan 5, 2021Pandemic Tops Trade War in USDA Payments to Farmers+0.3%
Sep 16, 2024India's farm trade measures to placate farmers-2.2%

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 ▸

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Soybeans SOY · GP ▸

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