◂ Event Timeline

Sep 14, 2020REPORTUS

GAO: Higher payment limits for 2019 MFP added $519M

A GAO report found that raising the 2019 MFP payment limit from $125,000 to $250,000 added $519 million in payments to large farms. About 10,000 farms, or 1.3% of recipients, benefited, with Texas receiving the largest share.

WHY IT MATTERS

The findings concern the distribution of past trade-aid payments and do not change current crop supply or demand. The price impact is minimal.

AFFECTSCorn Soybeans Wheat (SRW)

SOURCE
agri-pulse.comPhilip BrasherSep 14, 2020

Price reaction & history

Cornno directional readSO FAR1d -1.6%5d +3.4%20d +4.6%

After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.

Aug 30, 2019Trade mitigation payments boost farm income | 2019-08-30 | Agri-Pulse Communications, Inc.-2.4%
May 10, 2019[Article Headline] | 2019-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.+5.8%
May 31, 2023USDA lowers ag trade forecast for FY 2023 | Agri-Pulse Communications, Inc.-1.8%
Nov 8, 2019Nation's corn crop is shrinking | 2019-11-08 | Agri-Pulse Communications, Inc.+0.0%
Mar 9, 2021Corn, soy, wheat ending stocks hold steady for March | 2021-03-09 | Agri-Pulse Communications, Inc.-10.3%

Soybeansno directional readSO FAR1d +1.4%5d +3.8%20d +6.0%

After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.

Aug 30, 2019Trade mitigation payments boost farm income | 2019-08-30 | Agri-Pulse Communications, Inc.-1.3%
May 10, 2019[Article Headline] | 2019-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.+4.9%
May 31, 2023USDA lowers ag trade forecast for FY 2023 | Agri-Pulse Communications, Inc.+4.4%
Nov 8, 2019Nation's corn crop is shrinking | 2019-11-08 | Agri-Pulse Communications, Inc.-2.7%
Mar 9, 2021Corn, soy, wheat ending stocks hold steady for March | 2021-03-09 | Agri-Pulse Communications, Inc.-1.3%

Wheat (SRW)no directional readSO FAR1d +0.6%5d +1.4%20d +8.1%

After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), 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.

Corn CORN · GP ▸

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Soybeans SOY · GP ▸

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