# Biggest Commodity Winner of 2018 Rallies on Argentina's Drought - Bloomberg

> Argentina's drought has pushed soy and corn fields to receive only about 3.5 cm of rain since January, less than a fifth of normal, with temperatures also elevated. Funds have raised bets on price gains to their highest in almost a year.

- Date: 2018-02-16 · published 2018-02-16T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/10003-biggest-commodity-winner-of-2018-rallies-on-argentina-s-drought-bloomberg
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Argentina is a major exporter of soymeal and corn, so crop losses there tighten global feed supply and support higher prices for soy-based and corn feed ingredients.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-11-29 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - Bloomberg](https://feedsoft.ai/events/14070-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-bloomberg.md) | +1.9% | +13.4% |
| SBM | 2023-11-16 | [Argentina’s Drought-Hit Soy Woes Add to Next President Economic Challenges - Bloomberg](https://feedsoft.ai/events/13946-argentina-s-drought-hit-soy-woes-add-to-next-president-economic-challenges.md) | -1.6% | -9.1% |
| SBM | 2018-02-18 | [Soybean rallies on supply worries amid Argentina drought - BusinessWorld Online](https://feedsoft.ai/events/66344-soybean-rallies-on-supply-worries-amid-argentina-drought-businessworld-online.md) | +1.0% | -3.9% |
| SBM | 2022-02-10 | [Argentina soy belt drought awakens ghost of 2018 production 'disaster'](https://feedsoft.ai/events/14050-argentina-soy-belt-drought-awakens-ghost-of-2018-production-disaster.md) | -2.7% | +6.8% |
| SBM | 2018-08-31 | [Drought devastates Argentina’s oilseed crop \| 2018-08-31  \| World Grain](https://feedsoft.ai/events/63375-drought-devastates-argentina-s-oilseed-crop-2018-08-31-world-grain.md) | +4.2% | +1.3% |
| SOY | 2021-11-29 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - Bloomberg](https://feedsoft.ai/events/14070-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-bloomberg.md) | +1.2% | +8.8% |
| SOY | 2023-11-16 | [Argentina’s Drought-Hit Soy Woes Add to Next President Economic Challenges - Bloomberg](https://feedsoft.ai/events/13946-argentina-s-drought-hit-soy-woes-add-to-next-president-economic-challenges.md) | -2.1% | -5.1% |
| SOY | 2018-02-18 | [Soybean rallies on supply worries amid Argentina drought - BusinessWorld Online](https://feedsoft.ai/events/66344-soybean-rallies-on-supply-worries-amid-argentina-drought-businessworld-online.md) | +1.2% | +0.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-02-16/biggest-commodity-winner-of-2018-rallies-on-argentina-s-drought

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