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Congress enacted the FY2017 Agriculture and Related Agencies appropriations as part of the Consolidated Appropriations Act on May 5, 2017. The discretionary total is $20.877 billion, funding USDA, FDA and, in even years, the CFTC.
Funding levels for USDA programs such as research, conservation and food aid are set, removing a near-term budget uncertainty; the direct effect on feed grain or protein prices is minimal.
everycrsreport.comMay 11, 2017After 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, Soybeans 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 (SRW) 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.
