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The House Agriculture Committee approved its farm bill, H.R. 2, on a 26-20 party-line vote on April 18, 2018.
Most of the debate centered on proposed changes to SNAP job training and eligibility rather than farm programs. Chairman Conaway hopes for a full House vote in early May.
The bill's passage through committee sets up Senate negotiations over farm support and funding, but its direct effect on grain and oilseed prices is limited for now. Buyers should watch for changes to safety-net and reference-price provisions later in the process.
dtnpf.comChris ClaytonApr 18, 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, SOY 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 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.
