# Drought in Argentina creates tighter stocks in soybean and corn market: WASDE - RealAgriculture

> The USDA February WASDE cut global soybean production 5.0 million tonnes to 383.0 million, mainly on Argentina and Ukraine. Global corn output was lowered 3.6 million tonnes, with Argentina again the main drag, but futures showed no major reaction.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/13986-drought-in-argentina-creates-tighter-stocks-in-soybean-and-corn-market-wasde
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The lower global soybean and corn crops tighten world balance sheets, but the market largely ignored the report, so the price effect is limited.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-03-11 | [WASDE update: Corn and soybean markets tighten \| articles \| ING THINK](https://feedsoft.ai/events/31132-wasde-update-corn-and-soybean-markets-tighten-articles-ing-think.md) | +2.4% | +0.9% |
| SOY | 2018-10-11 | [WASDE report pushes corn, soybean futures higher - RealAgriculture](https://feedsoft.ai/events/62482-wasde-report-pushes-corn-soybean-futures-higher-realagriculture.md) | +3.9% | +1.8% |
| SOY | 2023-09-13 | [WASDE update: Tighter wheat and looser corn market \| articles \| ING THINK](https://feedsoft.ai/events/34042-wasde-update-tighter-wheat-and-looser-corn-market-articles-ing-think.md) | -1.2% | -4.5% |
| SOY | 2024-11-11 | [WASDE Shows Decrease in US Corn and Soybean Ending Stocks in 2024/2025](https://feedsoft.ai/events/27342-wasde-shows-decrease-in-us-corn-and-soybean-ending-stocks-in-2024-2025.md) | -1.8% | -2.6% |
| SOY | 2025-01-13 | [WASDE Shows Decrease in US Corn and Soybeans Ending Stocks in 2024/2025](https://feedsoft.ai/events/26454-wasde-shows-decrease-in-us-corn-and-soybeans-ending-stocks-in-2024-2025.md) | +2.0% | +3.6% |
| CORN | 2024-03-11 | [WASDE update: Corn and soybean markets tighten \| articles \| ING THINK](https://feedsoft.ai/events/31132-wasde-update-corn-and-soybean-markets-tighten-articles-ing-think.md) | +1.7% | -4.3% |
| CORN | 2018-10-11 | [WASDE report pushes corn, soybean futures higher - RealAgriculture](https://feedsoft.ai/events/62482-wasde-report-pushes-corn-soybean-futures-higher-realagriculture.md) | +4.1% | +4.1% |
| CORN | 2025-01-13 | [WASDE Shows Decrease in US Corn and Soybeans Ending Stocks in 2024/2025](https://feedsoft.ai/events/26454-wasde-shows-decrease-in-us-corn-and-soybeans-ending-stocks-in-2024-2025.md) | +1.7% | +1.8% |

## Sources

- realagriculture.com: https://www.realagriculture.com/2023/02/drought-in-argentina-creates-tighter-stocks-in-soybean-and-corn-market-wasde/

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