# Prolonged drought wrecking soybean and corn crops, threatens Argentina's growth — MercoPress

> A four-month drought is wrecking Argentina's soybean and corn crops, with analysts cutting output forecasts. J.P. Morgan estimates a harvest value loss of US$3.1 billion, or 0.5% of GDP, and Chicago soybean futures have reached one-year highs.

- Date: 2018-02-28 · published 2018-02-28T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/66345-prolonged-drought-wrecking-soybean-and-corn-crops-threatens-argentina-s-growth
- 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

Argentina is the top soymeal exporter and a major corn exporter, so deeper crop losses tighten global supplies and support soy complex and corn prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-01-29 | [Heat wave hits Argentina, threatening corn and soybean crops](https://feedsoft.ai/events/13817-heat-wave-hits-argentina-threatening-corn-and-soybean-crops.md) | +1.6% | +6.8% |
| SOY | 2017-12-07 | [Argentine drought threatens to wallop late-planted corn and soy — EMTV ONLINE](https://feedsoft.ai/events/67324-argentine-drought-threatens-to-wallop-late-planted-corn-and-soy-emtv-online.md) | -2.3% | -4.1% |
| SOY | 2025-01-22 | [CBOT corn and soybean prices surge amid drought in Argentina – ProAgri Media](https://feedsoft.ai/events/11810-cbot-corn-and-soybean-prices-surge-amid-drought-in-argentina-proagri-media.md) | -2.1% | -3.3% |
| SOY | 2023-03-15 | [Argentine soy processing in crisis as drought threatens harvest -industry group](https://feedsoft.ai/events/13976-argentine-soy-processing-in-crisis-as-drought-threatens-harvest-industry-group.md) | -2.2% | +0.3% |
| SOY | 2023-08-31 | [Drought, Record Heat Threaten U.S. Soybean Crop at Critical Growing Stage - CoBank Site - CoBank](https://feedsoft.ai/events/13257-drought-record-heat-threaten-u-s-soybean-crop-at-critical-growing-stage-cobank.md) | -2.6% | -5.8% |
| SBM | 2026-01-29 | [Heat wave hits Argentina, threatening corn and soybean crops](https://feedsoft.ai/events/13817-heat-wave-hits-argentina-threatening-corn-and-soybean-crops.md) | -0.4% | +8.5% |
| SBM | 2017-12-07 | [Argentine drought threatens to wallop late-planted corn and soy — EMTV ONLINE](https://feedsoft.ai/events/67324-argentine-drought-threatens-to-wallop-late-planted-corn-and-soy-emtv-online.md) | -4.5% | -6.6% |
| SBM | 2023-03-15 | [Argentine soy processing in crisis as drought threatens harvest -industry group](https://feedsoft.ai/events/13976-argentine-soy-processing-in-crisis-as-drought-threatens-harvest-industry-group.md) | -5.8% | -6.5% |

## Sources

- en.mercopress.com: https://en.mercopress.com/2018/02/28/prolonged-drought-wrecking-soybean-and-corn-crops-threatens-argentina-s-growth

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