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A CRS report projects U.S. amber box farm support outlays could exceed the $19.1 billion WTO annual limit in 2019 and 2020. Ad hoc USDA programs worth up to $60.4 billion since 2018 are cited as the cause.
Possible WTO non-compliance could invite challenges from trading partners and pressure on future support levels, but direct feed-grain price impact is limited since payments do not change supply.
everycrsreport.comOct 21, 2020After 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.
