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The Congressional Budget Office released its June 2017 baseline for farm program spending on June 29, 2017. The American Farm Bureau explains how the baseline will be used to score future farm bill changes for budget neutrality.
The baseline sets the budget room for the 2018 farm bill, which influences future program support levels but not current crop or feed prices.
fb.orgJohn Newton, Ph.D.Jul 5, 2017After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), 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.
