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The American Farm Bureau warned that farm bill programs and payments due in early October could exhaust Commodity Credit Corporation funds by November without an immediate replenishment. Some in Congress are considering delaying the reimbursement in a continuing resolution.
A delay in farm program payments could weigh on producer finances and marketing flexibility. The direct price impact on feed markets is limited.
fb.orgJohn Newton, Ph.D.Sep 15, 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.
