◂ Event Timeline

Jun 28, 2017POLICYUS

Farm bill future entangled in budget, tax negotiations

Farm bill negotiations are tied to a FY2018 budget resolution that Republicans want to use to pass tax reform. House Freedom Caucus members are pressing for deep SNAP cuts, which Chairman Conaway opposes, and the House Budget Committee postponed its vote until after the July 4 recess.

WHY IT MATTERS

Legislative gridlock over farm bill funding delays policy clarity for producers but does not immediately change feed supply or demand.

AFFECTSCORN SOY WHEAT

SOURCE
agri-pulse.comPhilip BrasherJun 28, 2017

Price reaction & history

CORNno directional readSO FAR1d -0.6%5d +5.6%20d +3.0%

After 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.

May 23, 2018Farm bill negotiations may feature payment limits struggle | 2018-05-22 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.5%
Oct 25, 2017Opinion: The Zero-Sum 2018 Farm Bill | 2017-10-25 | Agri-Pulse | Agri-Pulse Communications, Inc.-1.4%
Oct 3, 2018Farm bill expiration impact varies | 2018-10-02 | Agri-Pulse | Agri-Pulse Communications, Inc.-1.7%
Mar 15, 2017Ag groups urge boost in farm bill spending | 2017-03-15 | Agri-Pulse | Agri-Pulse Communications, Inc.+1.0%
Nov 30, 2016Farm bill wheels starting to turn | Agri-Pulse Communications, Inc.+4.0%

SOYno directional readSO FAR1d +0.3%5d +7.1%20d +8.5%

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.

May 23, 2018Farm bill negotiations may feature payment limits struggle | 2018-05-22 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.7%
Oct 25, 2017Opinion: The Zero-Sum 2018 Farm Bill | 2017-10-25 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.2%
Oct 3, 2018Farm bill expiration impact varies | 2018-10-02 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.3%
Mar 15, 2017Ag groups urge boost in farm bill spending | 2017-03-15 | Agri-Pulse | Agri-Pulse Communications, Inc.+1.4%
Nov 30, 2016Farm bill wheels starting to turn | Agri-Pulse Communications, Inc.+0.5%

WHEATno directional readSO FAR1d +0.2%5d +3.2%20d -2.8%

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.

May 23, 2018Farm bill negotiations may feature payment limits struggle | 2018-05-22 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.0%
Oct 25, 2017Opinion: The Zero-Sum 2018 Farm Bill | 2017-10-25 | Agri-Pulse | Agri-Pulse Communications, Inc.-4.5%
Oct 3, 2018Farm bill expiration impact varies | 2018-10-02 | Agri-Pulse | Agri-Pulse Communications, Inc.-2.7%
Mar 15, 2017Ag groups urge boost in farm bill spending | 2017-03-15 | Agri-Pulse | Agri-Pulse Communications, Inc.-1.7%
Nov 30, 2016Farm bill wheels starting to turn | Agri-Pulse Communications, Inc.+3.7%

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.

CORN · GP ▸

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SOY · GP ▸

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