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Georgia Rep. Austin Scott says Congress should write a new farm bill next year, citing the prolonged slump in commodity prices.
He suggested expanding the Conservation Reserve Program to take acreage out of production and reduce supply.
Talk of supply management through acreage reduction signals possible future policy support for prices, but it is a proposal with no enacted change, so the near-term price effect is minimal.
agri-pulse.comPhilip Brasher, Steve Davies, Ben Nuelle, Bill TomsonJun 26, 2020After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
