# Ongoing drought could slash one percentage point off GDP growth | Buenos Aires Times

> Economists estimate the ongoing Pampa drought could cut Argentina's GDP growth by 0.2 to one percentage point. Rosario climatologists see no rain until late March, with maize possibly 10 million tonnes lower and soy down about 5 million tonnes.

- Date: 2018-02-26 · published 2018-02-26T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/66343-ongoing-drought-could-slash-one-percentage-point-off-gdp-growth-buenos-aires
- 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

Lower Argentine maize and soy output reduces export availability from a top exporter, supporting soymeal and corn prices, though rising soy prices only partly offset lower volumes.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-07-04 | [Drought slashes 2022/2023 soybean production by 51.5% \| Buenos Aires Times](https://feedsoft.ai/events/13960-drought-slashes-2022-2023-soybean-production-by-51-5-buenos-aires-times.md) | -2.7% | -7.4% |
| SOY | 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) | +3.9% | +10.7% |
| SOY | 2022-10-28 | [Third straight drought is upending key Argentine planting season \| Buenos Aires Times](https://feedsoft.ai/events/14004-third-straight-drought-is-upending-key-argentine-planting-season-buenos-aires.md) | +3.2% | +3.9% |
| SOY | 2022-09-26 | [Percent Drought in US Corn, Bean Areas Highest of Season](https://feedsoft.ai/events/13333-percent-drought-in-us-corn-bean-areas-highest-of-season.md) | -4.3% | -2.1% |
| SOY | 2018-02-28 | [Prolonged drought wrecking soybean and corn crops, threatens Argentina's growth — MercoPress](https://feedsoft.ai/events/66345-prolonged-drought-wrecking-soybean-and-corn-crops-threatens-argentina-s-growth.md) | +2.6% | -1.8% |
| SBM | 2023-07-04 | [Drought slashes 2022/2023 soybean production by 51.5% \| Buenos Aires Times](https://feedsoft.ai/events/13960-drought-slashes-2022-2023-soybean-production-by-51-5-buenos-aires-times.md) | +0.6% | +8.5% |
| 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% |
| SBM | 2022-10-28 | [Third straight drought is upending key Argentine planting season \| Buenos Aires Times](https://feedsoft.ai/events/14004-third-straight-drought-is-upending-key-argentine-planting-season-buenos-aires.md) | -0.2% | -2.9% |

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/ongoing-drought-could-slash-1-from-gdp-growth.phtml

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