Eric
I would suggest some 400 series stainless for that shaft. Buy it in a normal state and do all of your machining and send it out for tempering. I am assuming you will need some type of counterbore or flat surface to grab your linkage, and while it is possible to cut when hard, you will need something like carbide tooling or grinding to cut it. I am assuming there is a seal at the exit point on the gearbox, and a nice smooth finish will insure a good seal, and good seal life. 16 MM (.6299) is a fairly common size. Also this type of stainless will be magnetic because of the nature of the alloy, but has good corrosion qualities. Another choice is chrome alloy rod (commonly used for hydraulic cylinders), this material is very strong, and workable, but will not have the corrosion resistance you may require. I think while 304, and 316 have the highest corrosion resistance, they may be too soft for this application.
Good Luck
Phil