Sep 26, 2018

What Happens if Congress Misses Farm Bill Deadline?

It's unlikely Congress will pass the farm bill by Sunday

Barring a dramatic breakthrough, farm-state lawmakers will miss their target of enacting the 2018 farm bill in the next six days, according to two of the Senate and House negotiators charged with finding a compromise.

Successful Farmingreports there would be little immediate impact if the 2014 farm law expires, as scheduled, on Sunday without a successor in place.

Lawmakers have passed short-term extensions in the past while completing negotiations, or simply allowed a lapse of a few days.

At some point, a reversion to the “permanent” 1949 Agricultural Act, which would boost farm subsidy rates to unaffordable rates, reintroduce planting controls for some crops, and eliminate support for soybeans, will be invoked.

Several lawmakers have said it was unlikely Congress will pass the farm bill by Sunday.

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Marketwatch: Mar, 17

US Corn Price Idx:ZCPAUS.CM

open: 7.1495
high: 7.167
low: 6.9314
close: 6.9639

US Soybean Price Idx:ZSPAUS.CM

open: 16.1682
high: 16.2332
low: 15.8287
close: 15.8704

US Hard Red Winter Wheat Price Idx:KEPAUS.CM

open: 10.4572
high: 10.4872
low: 9.87
close: 9.87

US Soft Red Winter Wheat Price Idx:ZWPAUS.CM

open: 10.1237
高:10.1737
low: 9.58
close: 9.58