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USDA announced $1.3 billion in debt relief for about 36,000 farmers funded from $3.1 billion set aside in the Inflation Reduction Act. Delinquent borrowers with direct loans received about $52,000 on average and those with guaranteed loans about $172,000.
Debt relief keeps distressed farmers operating and may modestly support herd and crop retention, but the scale is too small to shift feed prices. The effect on commodity markets is negligible.
pbs.orgDavid Pitt, Associated PressOct 19, 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, 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.
