# La Niña ends, but drought exposes deeper problems for Argentina | Dialogue Earth

> A third consecutive La Niña has driven a multi-season drought across Argentina's Pampas region, with a water deficit equal to a year's rainfall since mid-2020. Farmers face the worst soybean harvest in 23 years, and losses are estimated at $20 billion, more than 3% of GDP. Poor soil health has worsened the effects.

- Date: 2023-06-06 · published 2023-06-06T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/13964-la-nina-ends-but-drought-exposes-deeper-problems-for-argentina-dialogue-earth
- 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

A very small Argentine soybean crop removes a major share of global meal and oil supply. This tightens world soymeal and soybean prices, and Argentine corn shortfalls add upward pressure.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-09-20 | [Winter drought rolls into third La Niña for Argentina - Grain Central](https://feedsoft.ai/events/14008-winter-drought-rolls-into-third-la-nina-for-argentina-grain-central.md) | -3.4% | -5.2% |
| SOY | 2023-04-04 | [Argentina to lose soy meal export crown to Brazil as drought bites \| Financial Post](https://feedsoft.ai/events/36484-argentina-to-lose-soy-meal-export-crown-to-brazil-as-drought-bites-financial.md) | -1.6% | -5.4% |
| SOY | 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) | -2.2% | +8.8% |
| SOY | 2024-12-31 | [Drought is a problem for soybeans in Argentina - Grains & Commodity Analysis \| Boerenbusiness. Nl](https://feedsoft.ai/events/13887-drought-is-a-problem-for-soybeans-in-argentina-grains-and-commodity-analysis.md) | +1.0% | +8.0% |
| 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% |
| SBM | 2022-09-20 | [Winter drought rolls into third La Niña for Argentina - Grain Central](https://feedsoft.ai/events/14008-winter-drought-rolls-into-third-la-nina-for-argentina-grain-central.md) | -1.6% | -4.7% |
| SBM | 2023-04-04 | [Argentina to lose soy meal export crown to Brazil as drought bites \| Financial Post](https://feedsoft.ai/events/36484-argentina-to-lose-soy-meal-export-crown-to-brazil-as-drought-bites-financial.md) | -1.4% | -6.7% |
| 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% |

## Sources

- dialogue.earth: https://dialogue.earth/en/climate/370215-la-nina-ends-but-drought-exposes-deeper-problems-for-argentina/

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