
US direct government payments to farmers rose from $28 billion in 2025 to $47 billion in 2026, about 27% of net cash farm income, according to McKinsey's analysis. Purdue's barometer shows the share of farmers reporting strong balance sheets fell from 76% in January to 60% in October.
Large government support cushions farm incomes and can keep acreage and output steady despite weak margins. Limited price impact, but it shapes how much grain and oilseed supply farmers hold back.
After 1,646 past policy events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +1.5%), and +0.4% 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.