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A POLITICO excerpt says SNAP (formerly food stamps) changes have been a primary sticking point in Farm Bill negotiations, largely because Chairman Conaway wants to implement certain adjustments. The text is truncated and does not give the final proposal.
SNAP funding is a key dispute that determines whether a Farm Bill deal can pass, which affects future farm program funding. It has little direct effect on feed commodity prices.
politico.comLiz CramptonNov 14, 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.
