President Donald Trump announced plans to impose a sweeping 50% tariff on all imports from the European Union starting June 1.

Darren Frye, Water Street Solutions, says the grain markets saw risk off selling tied to President Trump’s threat of 50% tariffs on the EU on June 1.

USDA’s Brooke Rollins and more than 300 farm groups went to bat for agriculture leading up to the report’s release on Thursday. Yet farmers were excluded from having a voice at the table in the development process. That needs to change before the next report – which will provide policy recommendations – is issued within the next 80 days.

CFTC says expanding trading hours would ensure markets remain vibrant, while commercial hedgers and commodity brokers who work with farmers say it will fuel volatility and won’t make the markets stronger.

Scott Varilek, Kooima Kooima Varilek, says ag markets are seeing red with the threat of 50% tariffs on all EU imports.

Many farm organizations say the 68-page document released on Thursday is filled with “fear-based rather than science-based information about pesticides,” positioning that will sow seeds of distrust with the American public.