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Senators Grassley, Duckworth, Ernst and 12 colleagues asked USDA to allocate additional Commodity Credit Corporation funds to the biofuel industry. They cited idled ethanol and biodiesel plants and the drop in corn and soybean prices from lower fuel demand.
Federal support aimed at keeping biofuel plants running would sustain corn grind and soybean oil demand. If funds are approved, the support would limit downside pressure on corn and soybean prices.
grassley.senate.govApr 7, 2020After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
