# Soybean Meal Futures Rise On Argentina Drought

> Soybean meal futures on the CBOT posted a new high for the March contract as Argentine drought cut soybean production potential. The contract rose US$23 per short ton in the week and has gained more than 25% since Argentine planting began in November.

- Date: 2023-02-14 · published 2023-02-14T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/37454-soybean-meal-futures-rise-on-argentina-drought
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentina is a major meal exporter, so drought-driven supply losses lift global meal prices and raise feed protein costs for buyers.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 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) | +3.5% | -2.5% |
| SBM | 2026-01-30 | [Soybean Futures Surge on Strong Meal Demand, Argentina Weather](https://feedsoft.ai/events/21077-soybean-futures-surge-on-strong-meal-demand-argentina-weather.md) | +2.0% | +8.8% |
| SBM | 2023-07-21 | [Drought drives down Argentina’s soybean outlook \| World Grain](https://feedsoft.ai/events/13958-drought-drives-down-argentina-s-soybean-outlook-world-grain.md) | +4.5% | -7.2% |
| 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 | 2021-12-14 | [Argentina bourse doubles down on drought risk for soy, corn \| Buenos Aires Times](https://feedsoft.ai/events/14066-argentina-bourse-doubles-down-on-drought-risk-for-soy-corn-buenos-aires-times.md) | +0.5% | +11.7% |
| 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 | 2026-01-30 | [Soybean Futures Surge on Strong Meal Demand, Argentina Weather](https://feedsoft.ai/events/21077-soybean-futures-surge-on-strong-meal-demand-argentina-weather.md) | +3.7% | +7.9% |
| SOY | 2023-07-21 | [Drought drives down Argentina’s soybean outlook \| World Grain](https://feedsoft.ai/events/13958-drought-drives-down-argentina-s-soybean-outlook-world-grain.md) | +2.5% | -10.6% |

## Sources

- grainbrokers.com.au: https://www.grainbrokers.com.au/supply-uncertainty-ignites-soybean-meal-rally/

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