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Columnists Schaffer and Ray argue that the 2018 Farm Bill should be replaced before its expiration in autumn 2023, but Congress is nearly paralyzed. They expect little substantive action until after the fall 2022 elections.
Expected legislative delay keeps farm program uncertainty elevated but does not change near-term supply or demand for feed commodities.
farmforum.netFeb 23, 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.
