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The Senate Agriculture Committee opened farm bill hearings in Manhattan, Kansas, where farmers asked for changes to some commodity programs, new support for cotton, and continued conservation funding while opposing means testing of crop insurance. Chairman Pat Roberts said the new bill must address all regions and crops, and Ranking Member Stabenow noted 37 smaller programs have no funding after the current law expires in 2018.
Farm bill funding and program design shape producer income and planting incentives over the coming years, but no legislation will move before late 2017, so near-term feed price impact is limited.
agri-pulse.comPhilip BrasherFeb 23, 2017After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
