# Soybeans, corn slide on forecasts for much-needed Argentine rains | Financial Post

> CBOT soybeans fell 9-3/4 cents to $15.14-3/4 and corn dropped 4 cents to $6.77-1/4 as forecasts of rain in drought-hit Argentina triggered selling. Wheat also declined, and analysts noted weaker Chinese demand during the Lunar New Year and a record Brazilian soy harvest.

- Date: 2023-01-19 · published 2023-01-19T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/10660-soybeans-corn-slide-on-forecasts-for-much-needed-argentine-rains-financial-post
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Improved Argentine rain prospects reduce the risk of a deeper South American supply shortfall, lowering prices for soy and corn. Expectations of a large Brazilian crop add further bearish pressure for feed buyers.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-01-18 | [Rain potential in Argentina sends corn, soybeans lower - Brownfield Ag News](https://feedsoft.ai/events/10661-rain-potential-in-argentina-sends-corn-soybeans-lower-brownfield-ag-news.md) | -3.3% | -0.1% |
| SOY | 2023-12-02 | [Soybeans slide on predicted rains in Brazil - Markets - Business Recorder](https://feedsoft.ai/events/32740-soybeans-slide-on-predicted-rains-in-brazil-markets-business-recorder.md) | -1.6% | -3.8% |
| SOY | 2022-09-22 | [Argentine Farmers Plant More Soybeans to Fight Drought, Fertilizer Costs](https://feedsoft.ai/events/14009-argentine-farmers-plant-more-soybeans-to-fight-drought-fertilizer-costs.md) | -3.6% | -6.1% |
| SOY | 2018-06-11 | [Rain in much of Midwest sends soybeans, corn lower - Brownfield Ag News](https://feedsoft.ai/events/8247-rain-in-much-of-midwest-sends-soybeans-corn-lower-brownfield-ag-news.md) | -6.6% | -12.1% |
| SOY | 2021-08-20 | [Soybeans, corn down on rain in dry areas — Spot On Nebraska](https://feedsoft.ai/events/12609-soybeans-corn-down-on-rain-in-dry-areas-spot-on-nebraska.md) | +3.4% | -2.9% |
| CORN | 2023-01-18 | [Rain potential in Argentina sends corn, soybeans lower - Brownfield Ag News](https://feedsoft.ai/events/10661-rain-potential-in-argentina-sends-corn-soybeans-lower-brownfield-ag-news.md) | -1.7% | -1.0% |
| CORN | 2018-06-11 | [Rain in much of Midwest sends soybeans, corn lower - Brownfield Ag News](https://feedsoft.ai/events/8247-rain-in-much-of-midwest-sends-soybeans-corn-lower-brownfield-ag-news.md) | -3.5% | -5.6% |
| CORN | 2021-08-20 | [Soybeans, corn down on rain in dry areas — Spot On Nebraska](https://feedsoft.ai/events/12609-soybeans-corn-down-on-rain-in-dry-areas-spot-on-nebraska.md) | +0.4% | -6.4% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soybeans-corn-slide-on-forecasts-for-much-needed-argentine-rains-2

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