# South American drought likely to fuel US soybean demand in 2022 27.01.2022 - UkrAgroConsult

> Analysts told S&P Global Platts that prolonged drought in Brazil and Argentina will likely boost U.S. soybean export demand in 2022. SOYBEX FOB New Orleans was assessed at $555.93 per tonne on January 24, up 8% on the month. USDA and Conab have both cut Brazilian output forecasts.

- Date: 2022-01-27 · published 2022-01-27T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/43186-south-american-drought-likely-to-fuel-us-soybean-demand-in-2022-27-01-2022
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Each million tonne drop in Brazilian output could shift an equal volume of demand to U.S. exports, supporting U.S. soybean prices. Brazil still forecasts a near-record crop, limiting upside.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-02-15 | [South America’s soybean crop in a spot of bother 15.02.2022 - UkrAgroConsult](https://feedsoft.ai/events/14056-south-america-s-soybean-crop-in-a-spot-of-bother-15-02-2022-ukragroconsult.md) | +4.1% | +5.7% |
| SOY | 2022-09-19 | [La Nina Weakening for South America 19.09.2022 - UkrAgroConsult](https://feedsoft.ai/events/13703-la-nina-weakening-for-south-america-19-09-2022-ukragroconsult.md) | -1.6% | -4.5% |
| SOY | 2022-07-27 | [North American Grain and Oilseed Review: A round of gains for canola 27.07.2022 - UkrAgroConsult](https://feedsoft.ai/events/40454-north-american-grain-and-oilseed-review-a-round-of-gains-for-canola-27-07-2022.md) | +2.4% | +2.2% |
| 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 | 2022-02-28 | [Soybean Prices Rise as South American Drought Reduces Harvest \| Feed & Grain](https://feedsoft.ai/events/14055-soybean-prices-rise-as-south-american-drought-reduces-harvest-feed-and-grain.md) | +5.4% | +7.5% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/south-american-drought-likely-to-fuel-us-soybean-demand-in-2022-2/

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