# Soybean rallies on supply worries amid Argentina drought - BusinessWorld Online

> Soybean meal has risen about 19% in 2018, the best performer among Bloomberg Commodity Index raw materials, as Argentina's drought cuts crop prospects. USDA cut its Argentine soybean forecast to 54 million tonnes, while private estimates run as low as 47.2 million.

- Date: 2018-02-18 · published 2018-02-18T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/66344-soybean-rallies-on-supply-worries-amid-argentina-drought-businessworld-online
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentina is the largest soymeal exporter, so tighter supply lifts global meal prices and raises feed costs for meat producers.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-02-14 | [Soybean Meal Futures Rise On Argentina Drought](https://feedsoft.ai/events/37454-soybean-meal-futures-rise-on-argentina-drought.md) | -2.3% | -2.7% |
| SBM | 2022-03-13 | [Argentina Tries to Hold Onto Soybean Supplies \| Red River Farm Network](https://feedsoft.ai/events/14045-argentina-tries-to-hold-onto-soybean-supplies-red-river-farm-network.md) | -1.7% | -4.7% |
| SBM | 2018-02-16 | [Biggest Commodity Winner of 2018 Rallies on Argentina's Drought - Bloomberg](https://feedsoft.ai/events/10003-biggest-commodity-winner-of-2018-rallies-on-argentina-s-drought-bloomberg.md) | +0.5% | -0.2% |
| SBM | 2021-12-03 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - AgriBusiness Global](https://feedsoft.ai/events/14064-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-agribusiness.md) | +2.4% | +13.0% |
| 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% |
| 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 | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -0.6% | -2.7% |

## Sources

- bworldonline.com: https://bworldonline.com/agribusiness/2018/02/19/132712/soybean-rallies-supply-worries-amid-argentina-drought/

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