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USDA's Economic Research Service estimates US farmers received nearly $58 billion in federal assistance last year, with more than 60 percent from COVID-19 relief. USDA forecasts net farm income to fall 8 percent this year as direct government payments drop 45 percent.
Falling direct payments in 2021 may reduce farm liquidity and cut back on input purchases, a modest bearish signal for feed demand but not a major price driver.
rrfn.comDon WickJul 26, 2021After 3,207 past report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, SOY moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 2,447 past report events, WHEAT moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), 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.
