# Soybeans, wheat surge on “euphoria” following inauguration | Midday Markets | January 21, 2025

> Soybeans and wheat rallied the day after President Trump's inauguration as traders reacted to the absence of immediate new tariffs. Soybeans gained over 23 cents and wheat nearly 20 cents, aided by a roughly 1% drop in the US dollar. Analysts cautioned that fundamentals were largely unchanged and the rally could be short-lived.

- Date: 2025-01-21 · published 2025-01-21T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/9934-soybeans-wheat-surge-on-euphoria-following-inauguration-midday-markets-january
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Easing trade-tension expectations and a weaker dollar improve US export competitiveness, supporting soybean and wheat prices, though the move is driven more by sentiment than supply.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2025-01-24 | 5 | -1.5% | -2.8 | Confirms a roughly 1% dollar drop on Jan 21 after inauguration, with the weaker dollar being transmitted into grain prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-01-21 | [Soybeans Up 15¢. Tuesday, Jan. 21, 2025](https://feedsoft.ai/events/9938-soybeans-up-15-tuesday-jan-21-2025.md) | +1.1% | +0.4% |
| SOY | 2025-05-12 | [Soybeans Rally on Tuesday Following Weekend Trade Talks and Friendly USDA Data](https://feedsoft.ai/events/9505-soybeans-rally-on-tuesday-following-weekend-trade-talks-and-friendly-usda-data.md) | +0.6% | +1.1% |
| SOY | 2022-10-25 | [Tight soybean supply weighs on demand recovery in China amid surging crush margin \| World Ports Organization](https://feedsoft.ai/events/39165-tight-soybean-supply-weighs-on-demand-recovery-in-china-amid-surging-crush.md) | +2.6% | +4.7% |
| SOY | 2025-11-17 | [Soybeans Surge to July 2024 Highs](https://feedsoft.ai/events/7891-soybeans-surge-to-july-2024-highs.md) | +1.1% | -3.7% |
| SOY | 2016-08-18 | [Exports support soy; corn, wheat rise on short-covering - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12516-exports-support-soy-corn-wheat-rise-on-short-covering-agweek-1-source-for.md) | +0.0% | -7.8% |
| WHEAT | 2025-01-27 | [Wheat Market Outlook – January 27, 2025 \| Sask Wheat](https://feedsoft.ai/events/6891-wheat-market-outlook-january-27-2025-sask-wheat.md) | +4.0% | +5.2% |
| WHEAT | 2024-12-27 | [Export sales increase for wheat and corn, soybeans hit marketing-year low - Brownfield Ag News](https://feedsoft.ai/events/26997-export-sales-increase-for-wheat-and-corn-soybeans-hit-marketing-year-low.md) | -0.4% | -2.0% |
| WHEAT | 2026-10-29 | [Wheat export sales surge, soybeans down on week - Brownfield Ag News](https://feedsoft.ai/events/1263-wheat-export-sales-surge-soybeans-down-on-week-brownfield-ag-news.md) | -0.4% | — |

## Sources

- ruralradio.com: https://ruralradio.com/rrn/news/soybeans-wheat-surge-on-euphoria-following-inauguration-midday-markets-january-21-2025/

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