Based on farmer surveys, the USDA forecast a larger corn crop and smaller soybean crop than a year ago. 

Legislation was introduced today to rein in the president's power to impose tariffs allowing Congress to remove tariffs imposed by the administration. 

As expected President Donald Trump announced reciprocal tariffs on global trading partners this afternoon at the White House. The move drew both praise and scorn from various industry groups and legislators.  

Iowa Senator Charles Grassley is reserving judgement on President Trump's tariff plans but says legislators could override Executive Branch actions on trade. 

Next week promises plenty of potential for volatility in both commodity and financial markets.  The USDA's Grain Stocks and Prospective Plantings Report on Monday will be followed by tariff announcements from President Trump on Wednesday. 

Senate Minority Whip Richard Durbin says farmers in his state are concerned about access to global markets and what retaliation other nations may inflict on their ag products as a result of President Trump's various tariffs.