Soybean and wheat futures shot strongly higher out of the US holiday weekend on Tuesday, while corn posted more moderate advances.
Soybeans surged after new US President Donald Trump held off on levying any new trade tariffs on his first official day in office on Monday, when markets were closed for Martin Luther King Day. The soy market was holding its breath after Trump indicated he would immediately impose tariffs on imports of Chinese goods, raising fears the Chinese government would retaliate with tariffs of its own – likely hitting soybeans. Soybeans were further supported after much-needed weekend rainfall in Argentina was just hit and miss, leaving crops there still needing more. March beans jumped 33 ¼ cents to $10.67 ¼, and November 2025 was up 22 cents at $10.49 ¾.
Wheat was buoyed by the lack of tariffs as well. Dwindling exportable supplies in Russia and a weaker American dollar – which improves the competitiveness of US wheat in international markets – added to the upside. March Chicago wheat was up 20 cents to $5.58 ¾, March Kansas City gained 27 cents to $5.75 ½, and March Minneapolis closed 21 cents higher at $6.04 ½.
No immediate tariffs, the spotty Argentine rainfall and the lower greenback offered support to corn. March was 5 ¾ cents higher at $4.90, and December gained 3 ¾ cents to $4.59 ¾.
