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USDA will announce that producers have until May 17 to certify 2018 production for the $9 billion direct payment program covering commodities hit by retaliatory tariffs. The deadline was moved because of weather-related harvest delays.
The deadline extension affects payment timing rather than the aid level, so it has minimal direct effect on feed commodity prices.
politico.comRyan McCrimmonApr 29, 2019After 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.
