# Argentine soyabean outlook driven down due to drought

> The USDA cut its forecast for Argentina's 2022/23 soybean crop to 21.25M tonnes, 3.75M tonnes below its July WASDE projection, after lower-than-expected yields. Crushing, domestic consumption and ending stocks estimates were lowered accordingly. The agency expects a recovery to 50.5M tonnes in 2023/24 if weather normalizes.

- Date: 2023-08-02 · published 2023-08-02T12:00:00.000Z
- Category: report · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13956-argentine-soyabean-outlook-driven-down-due-to-drought
- 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

A smaller Argentine crop reduces export supply of soybeans, meal and oil and raises import needs, which supports global soy complex prices until the next crop recovers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-01-14 | [Argentine soyabean production to fall](https://feedsoft.ai/events/49004-argentine-soyabean-production-to-fall.md) | -2.9% | -3.1% |
| SOY | 2021-05-06 | [USDA forecasts drop in Argentine soyabean output and exports](https://feedsoft.ai/events/46935-usda-forecasts-drop-in-argentine-soyabean-output-and-exports.md) | +5.0% | -2.1% |
| SOY | 2021-03-03 | [USDA FAS lowers Argentina soybean outlook - Brownfield Ag News](https://feedsoft.ai/events/47978-usda-fas-lowers-argentina-soybean-outlook-brownfield-ag-news.md) | +1.9% | -3.3% |
| SOY | 2023-03-09 | [Argentina’s catastrophic drought clips recovery in S. American corn, soy output](https://feedsoft.ai/events/13979-argentina-s-catastrophic-drought-clips-recovery-in-s-american-corn-soy-output.md) | -2.5% | -1.0% |
| SOY | 2026-09-10 | [Argentina cuts soybean harvest outlook as corn margins improve
						 \| The Pig Site](https://feedsoft.ai/events/13776-argentina-cuts-soybean-harvest-outlook-as-corn-margins-improve-the-pig-site.md) | +1.9% | +0.2% |
| SBM | 2021-01-14 | [Argentine soyabean production to fall](https://feedsoft.ai/events/49004-argentine-soyabean-production-to-fall.md) | -3.0% | -5.9% |
| SBM | 2021-05-06 | [USDA forecasts drop in Argentine soyabean output and exports](https://feedsoft.ai/events/46935-usda-forecasts-drop-in-argentine-soyabean-output-and-exports.md) | +5.8% | -6.7% |
| SBM | 2025-12-23 | [Argentina soyabean exports set to rise while products decline](https://feedsoft.ai/events/13820-argentina-soyabean-exports-set-to-rise-while-products-decline.md) | -0.5% | -2.2% |

## Sources

- ofimagazine.com: https://www.ofimagazine.com/news/argentine-soyabean-outlook-driven-down-due-to-drought

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