02/23/26 Uncertainty Abound in Tariffs Ruling Aftermath

02/23/2026 Click Above to Watch the Morning Market Talk Video Uncertainty Abound in Tariffs Ruling Aftermath On the Grains Soybeans led a round of selling in the grain and soy markets overnight, with the exception of soyoil, amid uncertainty after the U.S. Supreme Court ruled on Friday that President Trump exceeded his authority to impose broad tariffs via the International Emergency Economic Powers Act (IEEPA). The decision marked a major legal setback for the administration’s trade strategy, which had relied heavily on unilateral executive action, but not and end to the tariff program. Gold, along with other metals, firmed amid the uncertainty. Meanwhile, crude oil futures and other energies weakened as Iran’s foreign minister said he saw a “good chance” of a diplomatic solution to the standoff over his country’s nuclear program, while reiterating Tehran won’t be pressured by the U.S. military buildup. The next U.S./Iran meeting is scheduled for Thursday.On the tariff front, Trump quickly pivoted to two other trade laws: Section 122 of the Trade Act of 1974 and Section 301 investigations. Section 122 limits how long tariffs can be imposed (150 days) and how high the tariffs can be. After the 150-day period, it requires Congress to…