# South American row crops tell a tale of two opposites - Grain Central

> Brazil's soybean harvest is nearly complete, with CONAB estimating a record 154.8 million tonnes after favorable growing conditions. Safras & Mercado put output slightly higher at 155.66 million tonnes. In Argentina, drought is expected to cut the soybean harvest to its smallest in about 20 years.

- Date: 2023-05-23 · published 2023-05-23T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/13649-south-american-row-crops-tell-a-tale-of-two-opposites-grain-central
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Argentina is a leading exporter of soybean meal and oil, so a sharp drop in its crop tightens meal and oil supplies and supports prices. Brazil's record crop offsets part of the shortfall in global soybean trade.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-01-18 | [South American Row Crop Yields](https://feedsoft.ai/events/13596-south-american-row-crop-yields.md) | +2.9% | -2.9% |
| SOY | 2025-12-05 | [Heavy rains improve central Brazil soil moisture but drought fears grow in southern South America](https://feedsoft.ai/events/13457-heavy-rains-improve-central-brazil-soil-moisture-but-drought-fears-grow-in.md) | -2.3% | -6.5% |
| SOY | 2026-06-30 | [A Tale of Two Corn Belts: Drought Grips the West as the East Stays Soggy \| American Ag Network](https://feedsoft.ai/events/12986-a-tale-of-two-corn-belts-drought-grips-the-west-as-the-east-stays-soggy.md) | +7.9% | +9.3% |
| SOY | 2023-11-07 | ['A tale of two extremes': Wisconsin farmers see mixed results with corn, soybean crops - WPR](https://feedsoft.ai/events/13231-a-tale-of-two-extremes-wisconsin-farmers-see-mixed-results-with-corn-soybean.md) | +2.1% | -2.6% |
| SOY | 2017-12-14 | [South American crop and weather update - Morning Ag Clips](https://feedsoft.ai/events/67327-south-american-crop-and-weather-update-morning-ag-clips.md) | -2.6% | -3.6% |
| SBM | 2021-03-16 | [Weather woes persist for South American row crops - Grain Central](https://feedsoft.ai/events/47964-weather-woes-persist-for-south-american-row-crops-grain-central.md) | -2.4% | -3.2% |
| SBM | 2022-01-11 | [The heat is on in South America - Grain Central](https://feedsoft.ai/events/43043-the-heat-is-on-in-south-america-grain-central.md) | +2.9% | +6.0% |
| SBM | 2020-11-17 | [#Agbiz: East African, South American crops at risk with La Niña \| OFM](https://feedsoft.ai/events/50068-agbiz-east-african-south-american-crops-at-risk-with-la-nina-ofm.md) | +1.4% | -0.3% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/south-american-row-crops-tell-a-tale-of-two-opposites/

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