Economy challenge 2023: farm exports may be reduced by up to US$14.1 billion due to the drought

After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.

• Feb 9, 2023Forecast: agricultural exports down US$13 billion from 2022 due to drought - Buenos Aires Herald+0.4%
• Jul 4, 2023Drought slashes 2022/2023 soybean production by 51.5% | Buenos Aires Times-2.7%
• Mar 24, 2023Argentina exchange sees 2022/23 soy imports up 139% due to drought - DatamarNews+3.9%
• Dec 9, 2024Panamaxes move away from Brazil-China grain run due to limited exports caused by drought-0.6%
• Nov 16, 2023Argentina’s Drought-Hit Soy Woes Add to Next President Economic Challenges - Bloomberg-2.1%

After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.

• Feb 9, 2023Forecast: agricultural exports down US$13 billion from 2022 due to drought - Buenos Aires Herald-1.3%
• Mar 24, 2023Argentina exchange sees 2022/23 soy imports up 139% due to drought - DatamarNews+1.7%
• Oct 11, 2024Ukraine grain exports to fall by more than 10 million tonnes due to smaller crop, official says - Grainews-1.8%
• Jul 31, 2023Barley Market Report: Drought Shrinks Crops and Impacts Economics - The Barley Bin-11.7%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer+2.8%