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USDA announced a new 'Pandemic Assistance for Producers' initiative with at least $6 billion to reach a broader set of farmers than earlier COVID-19 aid. The program will emphasize outreach to small, socially disadvantaged, specialty crop, organic and timber producers, and will support the food supply chain and renewable fuel producers.
Direct payments support farm cash flow and may keep marginal producers in production, but the funds are not a supply shock and are unlikely to move feed grain or livestock prices materially.
fsa.usda.govMar 24, 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.
