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Farm Progress reports that a GAO report found USDA used inaccurate baseline prices for 2019 Market Facilitation Program payments. The report says corn payments were about $3 billion above USDA's trade damage estimate, while soybean, sorghum and cotton payments were lower.
The findings may influence future trade-aid calculations, but they do not change current supply, demand or prices for feed grains.
farmprogress.comJacqui FatkaDec 23, 2021After 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.
