# Argentina’s Drought-Hit Soy Woes Add to Next President Economic Challenges - Bloomberg

> Argentina's worst drought in six decades has left the world's largest soy product exporter with its smallest crop in nearly 25 years. Farmers are running short of the commodity that underpins the economy.

- Date: 2023-11-16 · published 2023-11-16T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/13946-argentina-s-drought-hit-soy-woes-add-to-next-president-economic-challenges
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A crop this small removes a major share of global soymeal and soyoil export supply, which is bullish for soy product prices.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-11-29 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - Bloomberg](https://feedsoft.ai/events/14070-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-bloomberg.md) | +1.2% | +8.8% |
| SOY | 2026-02-13 | [Argentina's drought continues to hit corn, soy \| Latest Market News](https://feedsoft.ai/events/13809-argentina-s-drought-continues-to-hit-corn-soy-latest-market-news.md) | +0.0% | +6.5% |
| SOY | 2018-02-16 | [Biggest Commodity Winner of 2018 Rallies on Argentina's Drought - Bloomberg](https://feedsoft.ai/events/10003-biggest-commodity-winner-of-2018-rallies-on-argentina-s-drought-bloomberg.md) | +1.2% | +2.5% |
| SOY | 2022-12-02 | [Argentine Exchange: Early Soy in Core Farm Belt Hit by Drought, Outlook Dry](https://feedsoft.ai/events/13992-argentine-exchange-early-soy-in-core-farm-belt-hit-by-drought-outlook-dry.md) | +4.0% | +6.3% |
| SOY | 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) | -2.6% | -11.9% |
| SBM | 2021-11-29 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - Bloomberg](https://feedsoft.ai/events/14070-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-bloomberg.md) | +1.9% | +13.4% |
| SBM | 2026-02-13 | [Argentina's drought continues to hit corn, soy \| Latest Market News](https://feedsoft.ai/events/13809-argentina-s-drought-continues-to-hit-corn-soy-latest-market-news.md) | -0.0% | +6.9% |
| SBM | 2018-02-16 | [Biggest Commodity Winner of 2018 Rallies on Argentina's Drought - Bloomberg](https://feedsoft.ai/events/10003-biggest-commodity-winner-of-2018-rallies-on-argentina-s-drought-bloomberg.md) | +0.5% | -0.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-11-16/argentina-running-out-of-soy-deepens-next-president-s-problems

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