◂ Event Timeline

Apr 20, 2017POLICYUS

Making farm supports a safety net again

R Street's Caroline Kitchens argues the farm safety net should be reformed, noting the White House requested a $4.7 billion USDA cut for fiscal 2018 and that the 2014 farm bill cost well above CBO projections. She says farm groups are pressing Congress for more support as prices remain low.

WHY IT MATTERS

The debate over USDA funding and farm support levels affects long-run government spending on farm programs, but it does not create an immediate change in feed grain supply, demand or prices.

AFFECTSCORN SOY WHEAT

SOURCE
rstreet.orgCaroline KitchensApr 20, 2017

Price reaction & history

CORNno directional readSO FAR1d -0.7%5d +0.2%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.

Mar 20, 2024Farm Bill Is Safety Net in an Uncertain Ag World-2.3%
Jun 6, 2019Expanding the farm income safety net+2.8%
Oct 18, 2021Harvesting Another Trade War: Ad Hoc Farm Subsidies and Our WTO Commitments - R Street Institute+1.5%
Dec 12, 2016Drain the Swamp or Drain the Farm Safety Net?+1.3%
Feb 9, 2023Seven Worries About Farm Safety Net Heading Into Next Farm Bill-1.3%

SOYno directional readSO FAR1d -0.4%5d -0.5%20d +2.7%

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.

Mar 20, 2024Farm Bill Is Safety Net in an Uncertain Ag World+1.1%
Jun 6, 2019Expanding the farm income safety net+0.9%
Oct 18, 2021Harvesting Another Trade War: Ad Hoc Farm Subsidies and Our WTO Commitments - R Street Institute+0.2%
Dec 12, 2016Drain the Swamp or Drain the Farm Safety Net?-0.1%
Feb 9, 2023Seven Worries About Farm Safety Net Heading Into Next Farm Bill+0.4%

WHEATno directional readSO FAR1d -0.5%5d +1.3%20d +0.1%

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.

Mar 20, 2024Farm Bill Is Safety Net in an Uncertain Ag World+0.5%
Dec 12, 2016Drain the Swamp or Drain the Farm Safety Net?+1.1%
Feb 9, 2023Seven Worries About Farm Safety Net Heading Into Next Farm Bill-2.6%
May 16, 2018Farms and trade can grow together if Congress does the farm bill right - R Street Institute+4.0%
Oct 12, 2023Farmers want more money for crop support programs in this farm bill. But do price safety nets work?+0.8%

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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