# Argentine government, farm exporters seek relief from historic drought

> Lack of rainfall has almost halved Argentina's wheat output this cycle and hampered the current soybean and corn crops. Local grain exchanges expect fresh rains to bring some relief in the coming days.

- Date: 2023-01-21 · published 2023-01-21T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/13987-argentine-government-farm-exporters-seek-relief-from-historic-drought
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A sharp cut in Argentine supply of wheat, soybeans and corn, plus meal and oil from crushing, tightens world feed and grain markets and supports prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-09-15 | [Argentina wheat farmers abandon some lots due to drought, exchange says \| Reuters](https://feedsoft.ai/events/39652-argentina-wheat-farmers-abandon-some-lots-due-to-drought-exchange-says-reuters.md) | +5.5% | -9.2% |
| WHEAT | 2023-02-16 | [In Argentina's drought-hit fields, billion dollar losses and farmers going under](https://feedsoft.ai/events/13981-in-argentina-s-drought-hit-fields-billion-dollar-losses-and-farmers-going-under.md) | -1.3% | -6.4% |
| WHEAT | 2018-11-05 | [El Nino developing as Western Canada recovers from drought - Grainews](https://feedsoft.ai/events/61973-el-nino-developing-as-western-canada-recovers-from-drought-grainews.md) | -4.2% | -3.1% |
| WHEAT | 2026-07-30 | [Northern Plains see drought expand following hot weather - Pro Farmer](https://feedsoft.ai/events/12976-northern-plains-see-drought-expand-following-hot-weather-pro-farmer.md) | -1.3% | +3.6% |
| WHEAT | 2022-06-16 | [Internal woes blunt Argentina’s wheat export clout amid tight global supplies - Fastmarkets](https://feedsoft.ai/events/14031-internal-woes-blunt-argentina-s-wheat-export-clout-amid-tight-global-supplies.md) | -2.3% | -13.8% |
| SOY | 2021-09-21 | [Brazilian farmers begin seeding soybeans amid historic drought](https://feedsoft.ai/events/44919-brazilian-farmers-begin-seeding-soybeans-amid-historic-drought.md) | +2.0% | -3.2% |
| SOY | 2018-04-03 | [Argentine drought hits farmers hard, undermining economy \| AP News](https://feedsoft.ai/events/65362-argentine-drought-hits-farmers-hard-undermining-economy-ap-news.md) | +1.1% | +0.2% |
| SOY | 2021-08-12 | ['Once in 100 years' drought seen affecting Argentine grains exports into next year](https://feedsoft.ai/events/45423-once-in-100-years-drought-seen-affecting-argentine-grains-exports-into-next-year.md) | -3.4% | -10.4% |

## Sources

- reuters.com: https://www.reuters.com/world/americas/argentine-government-farm-exporters-seek-relief-historic-drought-2023-01-20/?taid=63cb6dd666853e0001d0e019

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