# Soybean Prices Rise as South American Drought Reduces Harvest | Feed & Grain

> Brazil, Argentina and Paraguay, which together supply over half of world soybeans, are expecting smaller harvests after severe drought since November. Conab cut Brazil's soybean estimate to 4,610 million bushels, down 9.2% from last year. CBOT soybean futures reached nine-year highs in February.

- Date: 2022-02-28 · published 2022-02-28T12:00:00.000Z
- Category: weather · region South America · magnitude high
- Page: https://feedsoft.ai/events/14055-soybean-prices-rise-as-south-american-drought-reduces-harvest-feed-and-grain
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Combined South American shortfalls remove a large share of export supply, tightening world soy, meal and corn balances and supporting prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-02-25 | [Soybean Prices Rise as Drought in South America Reduces Harvest - farmdoc daily](https://feedsoft.ai/events/42625-soybean-prices-rise-as-drought-in-south-america-reduces-harvest-farmdoc-daily.md) | +1.1% | +2.4% |
| SOY | 2022-01-17 | [Brazil’s Drought Reduces Grain Harvest Forecasts](https://feedsoft.ai/events/13749-brazil-s-drought-reduces-grain-harvest-forecasts.md) | +3.4% | +15.7% |
| SOY | 2018-03-05 | [South American drought helping to increase local canola prices -](https://feedsoft.ai/events/65972-south-american-drought-helping-to-increase-local-canola-prices.md) | -3.0% | -2.4% |
| SOY | 2025-01-16 | [EU soybean meal prices rise as Argentina's drought impacts production](https://feedsoft.ai/events/26587-eu-soybean-meal-prices-rise-as-argentina-s-drought-impacts-production.md) | +2.2% | -1.2% |
| SOY | 2021-01-27 | [A wet start to South American soybean harvest - McKeany-Flavell](https://feedsoft.ai/events/48977-a-wet-start-to-south-american-soybean-harvest-mckeany-flavell.md) | -1.1% | +3.9% |
| SBM | 2022-02-25 | [Soybean Prices Rise as Drought in South America Reduces Harvest - farmdoc daily](https://feedsoft.ai/events/42625-soybean-prices-rise-as-drought-in-south-america-reduces-harvest-farmdoc-daily.md) | -0.1% | +5.6% |
| SBM | 2022-01-17 | [Brazil’s Drought Reduces Grain Harvest Forecasts](https://feedsoft.ai/events/13749-brazil-s-drought-reduces-grain-harvest-forecasts.md) | -9.7% | +3.3% |
| SBM | 2018-03-05 | [South American drought helping to increase local canola prices -](https://feedsoft.ai/events/65972-south-american-drought-helping-to-increase-local-canola-prices.md) | -4.7% | -3.3% |

## Sources

- feedandgrain.com: https://www.feedandgrain.com/grain-handling-processing/news/15385614/soybean-prices-rise-as-south-american-drought-reduces-harvest

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