# Drought slashes 2022/2023 soybean production by 51.5% | Buenos Aires Times

> A Buenos Aires Grain Exchange report puts Argentina's 2022-23 soybean production at 21 million tons, down 51.5% year on year and the lowest since records began in 2000. Yields fell 45% to 15.4 quintals per hectare after drought and high temperatures. The government estimates losses of around US$20 billion.

- Date: 2023-07-04 · published 2023-07-04T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/13960-drought-slashes-2022-2023-soybean-production-by-51-5-buenos-aires-times
- 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 roughly halving of one of the world's largest soymeal and soyoil exporters' crops removes significant export supply from the market. This is a major bullish driver for soybean meal and soybeans.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-03-23 | [Brazil Drought Impacts Soybean Production - Field Advisor](https://feedsoft.ai/events/13737-brazil-drought-impacts-soybean-production-field-advisor.md) | -3.2% | +3.0% |
| SOY | 2018-02-26 | [Ongoing drought could slash one percentage point off GDP growth \| Buenos Aires Times](https://feedsoft.ai/events/66343-ongoing-drought-could-slash-one-percentage-point-off-gdp-growth-buenos-aires.md) | +2.4% | -0.8% |
| SOY | 2025-01-16 | [EU soybean meal prices rise as Argentina's drought impacts production](https://feedsoft.ai/events/26587-eu-soybean-meal-prices-rise-as-argentina-s-drought-impacts-production.md) | +2.2% | -1.2% |
| SOY | 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) | +3.9% | +10.7% |
| SOY | 2022-10-28 | [Third straight drought is upending key Argentine planting season \| Buenos Aires Times](https://feedsoft.ai/events/14004-third-straight-drought-is-upending-key-argentine-planting-season-buenos-aires.md) | +3.2% | +3.9% |
| SBM | 2022-03-23 | [Brazil Drought Impacts Soybean Production - Field Advisor](https://feedsoft.ai/events/13737-brazil-drought-impacts-soybean-production-field-advisor.md) | -2.6% | -2.0% |
| SBM | 2018-02-26 | [Ongoing drought could slash one percentage point off GDP growth \| Buenos Aires Times](https://feedsoft.ai/events/66343-ongoing-drought-could-slash-one-percentage-point-off-gdp-growth-buenos-aires.md) | +3.9% | +0.6% |
| SBM | 2025-01-16 | [EU soybean meal prices rise as Argentina's drought impacts production](https://feedsoft.ai/events/26587-eu-soybean-meal-prices-rise-as-argentina-s-drought-impacts-production.md) | +3.5% | -2.5% |

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/drought-slashes-argentinas-soybean-production-by-515.phtml

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