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The National Cotton Council released a preliminary summary of the Senate's Agriculture Improvement Act of 2018 covering farm programs for cotton. It describes continued ARC and PLC programs at current reference prices, a one-time crop-by-crop election between ARC and PLC for 2019 to 2023, and unchanged marketing loan provisions for upland cotton.
Continuing reference prices and loan rates keeps a price floor under US cotton plantings, which affects cottonseed meal availability over the medium term. The changes are largely technical and have limited near-term price impact.
cotton.orgJun 29, 2018Not enough comparable past events yet for a historical read.
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.
