# Argentina Tries to Hold Onto Soybean Supplies | Red River Farm Network

> Argentina's drought is severely affecting its soybean crop. The agriculture ministry suspended soybean oil and meal export registrations, and export taxes were set to rise for the world's largest soymeal and oil exporter.

- Date: 2022-03-13 · published 2022-03-13T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/14045-argentina-tries-to-hold-onto-soybean-supplies-red-river-farm-network
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A drought-reduced Argentine crop combined with export restrictions tightens global availability of soymeal and soyoil, supporting feed and oil prices.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-03-10 | 5 | +8.6% | 2.8 | Argentina, the top soymeal exporter, suspended meal export registrations and raised export taxes amid drought, which tightens global meal supply (dated 3/13, so it may reflect news already circulating by 3/10). |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-05-09 | [El Nino and La Nina \| Red River Farm Network](https://feedsoft.ai/events/30153-el-nino-and-la-nina-red-river-farm-network.md) | +0.1% | -1.1% |
| SOY | 2022-07-31 | [It’s a Late Crop \| Red River Farm Network](https://feedsoft.ai/events/40513-it-s-a-late-crop-red-river-farm-network.md) | -1.4% | -1.9% |
| SOY | 2018-02-18 | [Soybean rallies on supply worries amid Argentina drought - BusinessWorld Online](https://feedsoft.ai/events/66344-soybean-rallies-on-supply-worries-amid-argentina-drought-businessworld-online.md) | +1.2% | +0.1% |
| SOY | 2023-02-14 | [Soybean Meal Futures Rise On Argentina Drought](https://feedsoft.ai/events/37454-soybean-meal-futures-rise-on-argentina-drought.md) | +0.4% | -2.8% |
| SOY | 2019-10-04 | [A Slow Start for Planting in South America \| Red River Farm Network](https://feedsoft.ai/events/56406-a-slow-start-for-planting-in-south-america-red-river-farm-network.md) | +1.3% | +0.5% |
| SBM | 2018-02-18 | [Soybean rallies on supply worries amid Argentina drought - BusinessWorld Online](https://feedsoft.ai/events/66344-soybean-rallies-on-supply-worries-amid-argentina-drought-businessworld-online.md) | +1.0% | -3.9% |
| 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% |
| SBM | 2023-01-21 | [Meal Market Takes Priority \| Red River Farm Network](https://feedsoft.ai/events/37867-meal-market-takes-priority-red-river-farm-network.md) | +1.2% | +4.4% |

## Sources

- rrfn.com: https://www.rrfn.com/2022/03/13/argentina-tries-to-hold-onto-soybean-supplies/

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