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Senate Appropriations Committee approved a fiscal 2018 Agriculture and FDA funding bill that would make cottonseed eligible for Price Loss Coverage payments and overhaul the dairy Margin Protection Program. Each provision is estimated to cost close to $500 million over 10 years, with no projected spending in fiscal 2018.
The move could ease the path for House and Senate Agriculture committees writing the next farm bill.
Cottonseed PLC eligibility could support cotton producer income and planting decisions, which affects cottonseed supply for meal. The bill is a proposal, so the direct price effect on cottonseed meal is limited for now.
agri-pulse.comPhilip BrasherJul 20, 2017Not 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.
