# Argentina corn and soy outlooks take hit after heat wave

> Rosario grains exchange cut its 2023/24 Argentine soybean estimate to 49.5 million tonnes from 52 million and its corn estimate to 57 million from 59 million, citing a heat wave in late January and early February. Corn is still projected at a record level.

- Date: 2024-02-23 · published 2024-02-23T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13939-argentina-corn-and-soy-outlooks-take-hit-after-heat-wave
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower Argentine soy and corn supplies tighten export availability of soymeal, soyoil and corn, supporting feed ingredient prices despite a record corn crop forecast.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-01-29 | [Heat wave hits Argentina, threatening corn and soybean crops](https://feedsoft.ai/events/13817-heat-wave-hits-argentina-threatening-corn-and-soybean-crops.md) | +1.6% | +6.8% |
| SOY | 2022-01-06 | [Heatwave to hit Argentina, further stressing corn, soybean crops \| Reuters](https://feedsoft.ai/events/14062-heatwave-to-hit-argentina-further-stressing-corn-soybean-crops-reuters.md) | +0.5% | +11.6% |
| SOY | 2023-01-04 | [Argentina's soy, corn may hinge on La Nina's exit after dry 2022 \| Reuters](https://feedsoft.ai/events/13988-argentina-s-soy-corn-may-hinge-on-la-nina-s-exit-after-dry-2022-reuters.md) | +1.5% | +2.2% |
| SOY | 2019-09-30 | [Dryness in Argentina hits corn and wheat outlook; election haze supports safe-bet soy – HubTrades.com – Global Trading Hub](https://feedsoft.ai/events/56916-dryness-in-argentina-hits-corn-and-wheat-outlook-election-haze-supports-safe.md) | +3.8% | +4.2% |
| SOY | 2017-01-18 | [CBOT weekly outlook: Soy, corn can't keep their distance from Argentina - AgCanada](https://feedsoft.ai/events/73015-cbot-weekly-outlook-soy-corn-can-t-keep-their-distance-from-argentina-agcanada.md) | -1.0% | -2.3% |
| SBM | 2026-01-29 | [Heat wave hits Argentina, threatening corn and soybean crops](https://feedsoft.ai/events/13817-heat-wave-hits-argentina-threatening-corn-and-soybean-crops.md) | -0.4% | +8.5% |
| SBM | 2022-01-06 | [Heatwave to hit Argentina, further stressing corn, soybean crops \| Reuters](https://feedsoft.ai/events/14062-heatwave-to-hit-argentina-further-stressing-corn-soybean-crops-reuters.md) | +1.4% | +2.6% |
| SBM | 2023-01-04 | [Argentina's soy, corn may hinge on La Nina's exit after dry 2022 \| Reuters](https://feedsoft.ai/events/13988-argentina-s-soy-corn-may-hinge-on-la-nina-s-exit-after-dry-2022-reuters.md) | +4.1% | +1.0% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/argentina-corn-and-soy-outlooks-take-hit-after-heat-wave/

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