Treasury
3-MO 3.86% -1bp 6-MO 3.95% -1bp 1-YR 4.01% -3bp 2-YR 4.17% -7bp 3-YR 4.25% -6bp 5-YR 4.35% -6bp 7-YR 4.48% -7bp 10-YR 4.64% -6bp 20-YR 5.16% -5bp 30-YR 5.17% -6bp 3-MO 3.86% -1bp 6-MO 3.95% -1bp 1-YR 4.01% -3bp 2-YR 4.17% -7bp 3-YR 4.25% -6bp 5-YR 4.35% -6bp 7-YR 4.48% -7bp 10-YR 4.64% -6bp 20-YR 5.16% -5bp 30-YR 5.17% -6bp 3-MO 3.86% -1bp 6-MO 3.95% -1bp 1-YR 4.01% -3bp 2-YR 4.17% -7bp 3-YR 4.25% -6bp 5-YR 4.35% -6bp 7-YR 4.48% -7bp 10-YR 4.64% -6bp 20-YR 5.16% -5bp 30-YR 5.17% -6bp 3-MO 3.86% -1bp 6-MO 3.95% -1bp 1-YR 4.01% -3bp 2-YR 4.17% -7bp 3-YR 4.25% -6bp 5-YR 4.35% -6bp 7-YR 4.48% -7bp 10-YR 4.64% -6bp 20-YR 5.16% -5bp 30-YR 5.17% -6bp 3-MO 3.86% -1bp 6-MO 3.95% -1bp 1-YR 4.01% -3bp 2-YR 4.17% -7bp 3-YR 4.25% -6bp 5-YR 4.35% -6bp 7-YR 4.48% -7bp 10-YR 4.64% -6bp 20-YR 5.16% -5bp 30-YR 5.17% -6bp 3-MO 3.86% -1bp 6-MO 3.95% -1bp 1-YR 4.01% -3bp 2-YR 4.17% -7bp 3-YR 4.25% -6bp 5-YR 4.35% -6bp 7-YR 4.48% -7bp 10-YR 4.64% -6bp 20-YR 5.16% -5bp 30-YR 5.17% -6bp
US Treasury par yield curve · Aug 25 · Source: U.S. Treasury
Wednesday, August 26, 2026
U.S. Edition
Commodity Credit Corporation, 7 CFR Part 1414

An $11bn farm payment programme wrote a definition of corn that left out blue and red corn, and the growers it shut out are getting thirty days

The Jamie L. Whitten Building, headquarters of the United States Department of Agriculture in Washington: a white marble facade behind a long row of Corinthian columns, the words United States Department of Agriculture carved across the entablature, quotations cut into the storey above, and an American flag flying from a pole in front of it.
Photo: U.S. Department of Agriculture / Wikimedia Commons (Public domain)

The rule defined corn. That was the problem.

When the Commodity Credit Corporation published the final rule for the Farmer Bridge Assistance Program on 23 February, at 91 FR 8360, it wrote into 7 CFR 1414.3 that corn meant "only white, yellow, amylose, popcorn (excluding strawberry popcorn), waxy, and high amylase corn." Blue and red corn are eligible commodities under the programme. Neither appears in that sentence.

The consequence was mechanical and it ran the whole way through. Because those types were not in the definition, they were not on the pre-filled applications the agency sent out, and because they were not on the applications, the producers who grow them could not apply before the deadline closed on 17 April. In a correcting amendment filed for public inspection on Wednesday morning, the agency says the omission was inadvertent.

What the correction does

The amendment is two words long. It adds "blue, red," after the word "only" in the definition of Corn.

The remedy attached to it is larger than the amendment. The agency says it will generate a form CCC-555 for every eligible producer who reported eligible 2025 crop year acres of blue or red corn on time, so those growers do not have to construct an application from nothing, and it is reopening the submission window for them under section 1414.6(b) for 30 days after the correction publishes in the Federal Register. The document as filed leaves that date as a bracketed placeholder for the Office of the Federal Register to fill in, and schedules publication for 27 August.

One deadline does not move. Section 1414.6(c) still requires all eligibility forms by 19 April 2027, and the correction does nothing to that.

The programme underneath it

The Farmer Bridge Assistance Program provides up to $11 billion in one-time bridge payments, which the rule describes as a response to temporary trade market disruptions and increased production costs. The correcting amendment gives no figure for how much of that has been paid out, how many producers have been paid, or how many grow blue or red corn, and it does not estimate what the omission cost them.

So the size of this is not in the document. What is in the document is that the agency knows who the growers are, because the fix works by pulling the people who reported blue or red corn acres for the 2025 crop year and generating their applications for them.