# TSG Signal: Impact of Argentine Soy on Dry Freight

> Signal Group analyses how Argentine drought is shifting soybean and wheat flows and freight. USDA cut Argentine wheat to 12.5 million tonnes in its December report, while Canadian production is down and Australian output is forecast at a record.

- Date: 2022-12-22 · published 2022-12-22T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/38135-tsg-signal-impact-of-argentine-soy-on-dry-freight
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Argentine soy and wheat shortfalls tighten export supplies and push buyers toward other origins, supporting soybean and wheat prices while shifting dry bulk routes.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- WHEAT: bullish ▲
- OCEANFRT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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 | 2021-03-06 | [U.S. grains: Soy futures rally on dry Argentina weather - Grainews](https://feedsoft.ai/events/8633-u-s-grains-soy-futures-rally-on-dry-argentina-weather-grainews.md) | -1.3% | -1.5% |
| SOY | 2022-12-02 | [Argentine Exchange: Early Soy in Core Farm Belt Hit by Drought, Outlook Dry](https://feedsoft.ai/events/13992-argentine-exchange-early-soy-in-core-farm-belt-hit-by-drought-outlook-dry.md) | +4.0% | +6.3% |
| SOY | 2021-03-11 | [Argentinian soybean output forecast cut significantly on February drought: BCR](https://feedsoft.ai/events/47973-argentinian-soybean-output-forecast-cut-significantly-on-february-drought-bcr.md) | +0.4% | +0.3% |
| WHEAT | 2021-03-06 | [U.S. grains: Soy futures rally on dry Argentina weather - Grainews](https://feedsoft.ai/events/8633-u-s-grains-soy-futures-rally-on-dry-argentina-weather-grainews.md) | -2.8% | -2.7% |
| WHEAT | 2019-09-30 | [Dryness impacting Argentine crops \| 2019-09-30  \| World Grain](https://feedsoft.ai/events/56912-dryness-impacting-argentine-crops-2019-09-30-world-grain.md) | +0.6% | -1.3% |
| WHEAT | 2019-10-01 | [Argentina Crops Being Impacted by Drought Conditions - ProAg](https://feedsoft.ai/events/56410-argentina-crops-being-impacted-by-drought-conditions-proag.md) | -4.8% | -2.4% |

## Sources

- thesignalgroup.com: https://www.thesignalgroup.com/newsroom/the-impact-of-recent-argentine-soybean-production-losses-on-the-dry-freight-market

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