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USDA reported that US farmers received $23.5 billion in pandemic relief payments in under nine months, slightly exceeding the roughly $23 billion of trade-war aid. The undersecretary called for raising the $30 billion Commodity Credit Corporation borrowing cap.
Expanded CCC authority would give USDA more room for future farm support, which could sustain producer selling capacity and feed grain supply but has limited direct price impact.
agriculture.comChuck AbbottJan 5, 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.
