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House and Senate agriculture leaders announced an agreement in principle on the 2018 Farm Bill on November 29. They said legal and report language and CBO scores still need to be finalized before the bill is delivered.
A finalized farm bill sets crop subsidy, conservation and export program rules for several years, which affects planting incentives and feed grain supply expectations. The announcement is a step forward but not yet a binding change, so price impact should be modest for now.
agriculture.house.govNov 29, 2018After 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.
