Kent Beadle, DTN market analyst, says grain and livestock futures are sharply lower with a knee jerk reaction to the announced tariffs from President Trump on Wednesday.

A rare coalition of oil and biofuel interests met with the Environmental Protection Agency (EPA) on Tuesday to push for significantly higher Renewable Volume Obligations (RVOs).

Tomm Pfitzenmaier, Summit Commodity Brokerage, says grains saw risk off selling and positioning ahead of President Trump’s Liberation Day announcement on tariffs. However, Mexico’s president says they don’t want a tit for tat trade war.

Farmer sentiment took a hit this month, with Purdue’s latest Ag Economy Barometer showing a 12-point drop due to concerns over trade policy, tariffs and profitability.

On Wednesday afternoon, President Trump announced a series of tariffs, scheduled to start over the next few days, on some of agriculture’s most significant trade partners. Some corn and soybean growers say they are bracing themselves for potentially more financial pain ahead.

In a Wednesday morning press conference, ahead of Trump announcing his global tariff plan, Sheinbaum says Mexico will “announce a comprehensive program, not a tit for tat on tariffs,” but added, “we have a plan to strengthen the economy under any circumstance.”