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The Biden administration plans to redirect a $30 billion Agriculture Department fund, previously used for farm aid during the trade war, toward climate initiatives, restaurant support and other programs. The fund is the Commodity Credit Corporation pot used for bailouts.
Redirecting the CCC funds reduces the likelihood of large future farm bailout payments, which could weigh on farm income sentiment but has little immediate effect on feed grain supply.
politico.comLiz CramptonJan 31, 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.
