# U.S. grains: Soybeans plunge with Trump EPA pick; wheat and corn also fall - AgCanada

> CBOT soybeans fell sharply after President-elect Trump's nominee for EPA head, Lee Zeldin, was seen as unfavorable to biofuels. Soybean oil futures dropped four percent, and wheat and corn also declined, with wheat hit by a strengthening dollar.

- Date: 2024-11-12 · published 2024-11-12T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/12340-u-s-grains-soybeans-plunge-with-trump-epa-pick-wheat-and-corn-also-fall-agcanada
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expected weaker biofuel policy support reduces soyoil demand and pulls soybean crush values lower, while a stronger dollar makes US wheat less competitive abroad.

## Read by commodity

- DXY: bullish ▲
- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-06-16 | [U.S. grains: Soybeans down with vegetable oil prices - AgCanada](https://feedsoft.ai/events/6440-u-s-grains-soybeans-down-with-vegetable-oil-prices-agcanada.md) | -4.9% | +0.1% |
| SOY | 2025-07-07 | [Wheat falls more than 3% on supply pressure; corn, soybeans drop](https://feedsoft.ai/events/11932-wheat-falls-more-than-3-on-supply-pressure-corn-soybeans-drop.md) | -4.9% | -8.9% |
| SOY | 2022-12-02 | [U.S. grains: Soy snaps win streak on disappointing biofuel mandates - AgCanada](https://feedsoft.ai/events/38340-u-s-grains-soy-snaps-win-streak-on-disappointing-biofuel-mandates-agcanada.md) | +4.0% | +6.3% |
| SOY | 2025-05-15 | [Soybean, Soyoil futures slide; Wheat, Corn Rally \| The Brock Report](https://feedsoft.ai/events/24781-soybean-soyoil-futures-slide-wheat-corn-rally-the-brock-report.md) | -0.4% | -2.3% |
| SOY | 2026-10-28 | [CBOT wheat falls as Russia issues grain vessel permits; soybeans, soyoil follow \| MarketScreener India](https://feedsoft.ai/events/83-cbot-wheat-falls-as-russia-issues-grain-vessel-permits-soybeans-soyoil-follow.md) | -0.4% | — |
| SBO | 2021-06-16 | [U.S. grains: Soybeans down with vegetable oil prices - AgCanada](https://feedsoft.ai/events/6440-u-s-grains-soybeans-down-with-vegetable-oil-prices-agcanada.md) | -6.8% | -2.7% |
| SBO | 2022-12-02 | [U.S. grains: Soy snaps win streak on disappointing biofuel mandates - AgCanada](https://feedsoft.ai/events/38340-u-s-grains-soy-snaps-win-streak-on-disappointing-biofuel-mandates-agcanada.md) | -5.8% | -8.4% |
| SBO | 2025-05-15 | [Soybean, Soyoil futures slide; Wheat, Corn Rally \| The Brock Report](https://feedsoft.ai/events/24781-soybean-soyoil-futures-slide-wheat-corn-rally-the-brock-report.md) | -0.8% | -4.5% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soybeans-plunge-with-trump-epa-pick-wheat-and-corn-also-fall

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.