# South America Drought Woes Continue Despite Rain

> Rain in the week ending November 19, 2022 fell mainly outside Argentina's major production regions, leaving drought conditions largely intact. In Brazil's full-season corn areas, the period was the second driest second week of November in more than 30 years. Argentina's economy ministry revised its 2022/23 wheat production estimate down again in mid-November.

- Date: 2022-11-21 · published 2022-11-21T12:00:00.000Z
- Category: weather · region South America · magnitude medium
- Page: https://feedsoft.ai/events/13687-south-america-drought-woes-continue-despite-rain
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

La Niña-driven drought in the main South American corn and soybean regions points to tighter export supplies and higher prices. The downward wheat revision adds support to global wheat prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-01-26 | [Dry Crop Season in South America to Continue](https://feedsoft.ai/events/48975-dry-crop-season-in-south-america-to-continue.md) | +5.1% | +1.5% |
| CORN | 2022-12-15 | [La Nina Pattern Continues Through December for South America](https://feedsoft.ai/events/38162-la-nina-pattern-continues-through-december-for-south-america.md) | +2.2% | +4.0% |
| CORN | 2022-01-19 | [Why South America's drought is different this year](https://feedsoft.ai/events/13750-why-south-america-s-drought-is-different-this-year.md) | +2.1% | +6.9% |
| CORN | 2022-02-28 | [Soybean Prices Rise as South American Drought Reduces Harvest \| Feed & Grain](https://feedsoft.ai/events/14055-soybean-prices-rise-as-south-american-drought-reduces-harvest-feed-and-grain.md) | +10.4% | +14.4% |
| CORN | 2025-09-01 | [South America may trend slightly drier \| World Grain](https://feedsoft.ai/events/22793-south-america-may-trend-slightly-drier-world-grain.md) | +0.3% | +5.0% |
| SOY | 2021-01-26 | [Dry Crop Season in South America to Continue](https://feedsoft.ai/events/48975-dry-crop-season-in-south-america-to-continue.md) | +1.6% | +4.7% |
| SOY | 2022-12-15 | [La Nina Pattern Continues Through December for South America](https://feedsoft.ai/events/38162-la-nina-pattern-continues-through-december-for-south-america.md) | -0.1% | +3.8% |
| SOY | 2022-01-19 | [Why South America's drought is different this year](https://feedsoft.ai/events/13750-why-south-america-s-drought-is-different-this-year.md) | +3.4% | +14.0% |

## Sources

- agriculture.com: https://www.agriculture.com/weather/news/south-america-drought-woes-continue-despite-rain

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