# El Nino May Boost Soil Moisture in May for South American Wheat

> DTN reports that Argentina and southern Brazil have had poor rainfall, leaving soil moisture well below normal in the main South American winter wheat area. Corn and soybean yields have been hurt by dryness, and some rain is forecast but amounts look limited.

- Date: 2023-04-27 · published 2023-04-27T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/36317-el-nino-may-boost-soil-moisture-in-may-for-south-american-wheat
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Dry soils in South American wheat areas raise planting and yield risk, supporting wheat prices and adding to feed grain tightness from reduced corn and soybean crops.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-06-01 | [El Nino may hammer Asian farms with dry weather, but shower American growers](https://feedsoft.ai/events/35407-el-nino-may-hammer-asian-farms-with-dry-weather-but-shower-american-growers.md) | -3.6% | +8.1% |
| WHEAT | 2023-09-26 | [Unfavorable Ocean Combination Including Strong El Nino Dries Out Australia's Wheat Moisture Forecast](https://feedsoft.ai/events/34003-unfavorable-ocean-combination-including-strong-el-nino-dries-out-australia-s.md) | -5.4% | -2.2% |
| WHEAT | 2022-08-11 | [Continued La Nina Unfavorable for Wheat Seeding Moisture](https://feedsoft.ai/events/39964-continued-la-nina-unfavorable-for-wheat-seeding-moisture.md) | -1.3% | -11.1% |
| WHEAT | 2022-10-22 | [Rains threaten South American wheat \| The Western Producer](https://feedsoft.ai/events/13694-rains-threaten-south-american-wheat-the-western-producer.md) | -0.6% | +1.5% |
| WHEAT | 2017-05-03 | [You Can’t Kill Wheat, But Mother Nature is Trying \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/6141-you-can-t-kill-wheat-but-mother-nature-is-trying-farm-bureau-intel-markets.md) | -2.1% | -1.7% |
| CORN | 2021-10-19 | [La Niña Is Back—What That Means for North and South American Crops](https://feedsoft.ai/events/44469-la-nina-is-back-what-that-means-for-north-and-south-american-crops.md) | +0.7% | +10.3% |
| CORN | 2020-01-28 | [Mixed Forecast for South America](https://feedsoft.ai/events/54911-mixed-forecast-for-south-america.md) | -0.8% | -2.1% |
| CORN | 2024-08-30 | [Limited Rain for Those in Need in South America](https://feedsoft.ai/events/13552-limited-rain-for-those-in-need-in-south-america.md) | +4.1% | +5.9% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/south-america-calling/blog-post/2023/04/27/el-nino-may-boost-soil-moisture-may

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