A DTN column reports that a Wall Street Journal column called for cutting farm aid, citing a CBO projection of about $19 billion in farm program outlays for 2017. It also notes that USDA forecasts net farm income of $66.9 billion in 2016, down 46% from 2013.
Lower farm incomes and possible future cuts in aid could influence producer planting and financial decisions over time, but the effect on near-term feed prices is limited.
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.
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.