# Argentina Soybean Crop Smallest in 25 Years Due to Historic Drought - AgWeb

> A historic drought has sharply cut Argentina's 2022-23 soybean crop, with the Buenos Aires Grain Exchange lowering its estimate by 1.5 million tonnes to 22.5 million. Corn is estimated at 36 million tonnes, and analysts expect the final soybean crop to be below current estimates.

- Date: 2023-04-24 · published 2023-04-24T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/13969-argentina-soybean-crop-smallest-in-25-years-due-to-historic-drought-agweb
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Argentina is the top soybean meal exporter, so a crop near 20 million tonnes forces large soybean imports to keep crushers running, supporting U.S. soybean meal and soybean prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-01-02 | [Soybeans set to gain for 4th year amid Argentina drought, China demand](https://feedsoft.ai/events/8620-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand.md) | +5.8% | +0.5% |
| SBM | 2021-12-03 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - AgriBusiness Global](https://feedsoft.ai/events/14064-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-agribusiness.md) | +2.4% | +13.0% |
| 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 | 2023-02-14 | [Soybean Meal Futures Rise On Argentina Drought](https://feedsoft.ai/events/37454-soybean-meal-futures-rise-on-argentina-drought.md) | -2.3% | -2.7% |
| 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 | 2023-01-02 | [Soybeans set to gain for 4th year amid Argentina drought, China demand](https://feedsoft.ai/events/8620-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand.md) | -1.0% | +1.2% |
| SOY | 2021-12-03 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - AgriBusiness Global](https://feedsoft.ai/events/14064-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-agribusiness.md) | +1.6% | +6.8% |

## Sources

- agweb.com: https://www.agweb.com/markets/world-markets/argentina-soybean-crop-smallest-25-years-due-historic-drought

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