# Argentina’s soy crush hit 19-year low in 2023 - Buenos Aires Herald

> Argentina's soy crush fell to 27 million tonnes in 2023 from 38 million in 2022, the lowest in 19 years, per the Rosario Board of Trade. Drought cut the harvest by over 56%, while record imports of 10.4 million tonnes cushioned the crush decline, and 54% of crush capacity sat idle. Brazil overtook Argentina as the top soy oil and meal exporter.

- Date: 2024-01-23 · published 2024-01-23T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13941-argentina-s-soy-crush-hit-19-year-low-in-2023-buenos-aires-herald
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A sharply smaller Argentine crush cuts global soymeal and soyoil export supply, supporting prices while Brazil fills the gap. Improved El Niño rainfall for 2023/24 points to a crop recovery that would eventually weigh on prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-12-14 | [Argentina bourse doubles down on drought risk for soy, corn \| Buenos Aires Times](https://feedsoft.ai/events/14066-argentina-bourse-doubles-down-on-drought-risk-for-soy-corn-buenos-aires-times.md) | +0.5% | +11.7% |
| SBM | 2023-06-13 | [Argentina soy, corn trucks entering key grains port at 22-year low](https://feedsoft.ai/events/13963-argentina-soy-corn-trucks-entering-key-grains-port-at-22-year-low.md) | +4.3% | +5.2% |
| SBM | 2023-11-10 | [November 11th - Soyabean crushing in Argentina - Antares Ship Agents](https://feedsoft.ai/events/13950-november-11th-soyabean-crushing-in-argentina-antares-ship-agents.md) | +3.6% | -4.9% |
| SBM | 2023-03-21 | [Argentine Soybean Crushers in “Crisis Mode”](https://feedsoft.ai/events/13977-argentine-soybean-crushers-in-crisis-mode.md) | -3.5% | -0.5% |
| SBM | 2025-10-09 | [La Niña forecast raises early alarm bells for Milei’s Argentina \| Buenos Aires Times](https://feedsoft.ai/events/13827-la-nina-forecast-raises-early-alarm-bells-for-milei-s-argentina-buenos-aires.md) | +1.3% | +19.9% |
| SBO | 2023-03-21 | [Argentine Soybean Crushers in “Crisis Mode”](https://feedsoft.ai/events/13977-argentine-soybean-crushers-in-crisis-mode.md) | -4.8% | -5.4% |
| SBO | 2025-10-09 | [La Niña forecast raises early alarm bells for Milei’s Argentina \| Buenos Aires Times](https://feedsoft.ai/events/13827-la-nina-forecast-raises-early-alarm-bells-for-milei-s-argentina-buenos-aires.md) | -0.6% | -2.6% |
| SBO | 2023-04-24 | [Argentina Soybean Crop Smallest in 25 Years Due to Historic Drought - AgWeb](https://feedsoft.ai/events/13969-argentina-soybean-crop-smallest-in-25-years-due-to-historic-drought-agweb.md) | -1.4% | -12.4% |

## Sources

- buenosairesherald.com: https://buenosairesherald.com/business/agro/argentinas-soy-crush-hit-19-year-low-in-2023

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