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A USDA Commodity Credit Corporation and Farm Service Agency final rule takes effect August 20, 2020. It implements 2018 Farm Bill changes to program applicability and payment limits, allows waivers of the average AGI limit for certain conservation contracts, and expands the definition of family member to include first cousins, nieces and nephews.
The rule changes eligibility and payment limits for USDA programs, which affects how much support farms receive. Price impact is minimal because it is an administrative change.
federalregister.govAug 24, 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.
