According to new estimates from the Yale Budget Lab, the tariffs would translate into a 2.3 percentage point increase to overall inflation this year, or about a $3,800 impact for the average household.

Jim McCormick, AgMarket.Net, says the markets saw risk off selling in response to President Trump’s Liberation Day tariff announcement. He says the markets may not stabilize until after the tariffs go into effect April 9 and trading partners tip their hand on retaliation.

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.

Randy Martinson, Martinson Ag, says grains are not seeing follow through buying after the strong closes on Tuesday as the market is trading tariff fears.

Tommy Grisafi, Nesvick Trading, says grain futures saw risk on buying as traders were adding weather premium but biofuels news was also supportive.

As President Donald Trump prepares to launch a new wave of reciprocal tariffs, House Republican leaders are urging swift passage of their budget to help offset short-term economic pain.

DuWayne Bosse of Bolt Marketing says the grain markets are still digesting the USDA report data but are looking ahead now at weather and the impact of “Liberation Day.”

In a major boost to rural energy development, USDA Secretary Brooke Rollins announced the release of $537 million in obligated funding under the Higher Blends Infrastructure Incentive Program (HBIIP).