The drought has devastated crops in the bread basket but farmers aren't as concerned as you may think. Buying futures, locking in high prices with sales and government sponsored crop insurance schemes keep the heartland from the mood swings of Mother Nature. Unlike car insurance, where premiums are paid out of pocket for predetermined coverage, crop insurance premiums are subsidized and payouts increase with the crop yield reductions. Many farmers are not happy about the recent rains possibly staving off plowing under.
In scale to financial handouts crop insurance is a "minor" gift. Roughly $10 B will be transferred over from this years problems. The taxpayer gets hit twice in this longstanding farm constituent vote buying handout. The food source cannot be politically created. Smoothing out the lingering Malthusian fears of the Dust Bowl generation does not garner the anger of the anti-bailout "pundocracy" the way mortgage finance does.
One more question just to solidify our view from neither side: When farmer Brown holds up a rare ear of corn, will the Prez look up to God and say, "You didn't make that?"