# Drought dries out corn and soy profits, raises prices  : The Daily Digest

> A drought that began September 21 continues to damage late-planted and growing soybean and corn crops in Argentina. Soybean and soymeal prices reached their highest levels since July on supply concerns. Farmers such as Juan Graneros say even rain next week would not repair the damage.

- Date: 2017-12-08 · published 2017-12-08T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/67323-drought-dries-out-corn-and-soy-profits-raises-prices-the-daily-digest
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Argentina is the top global supplier of soymeal and a major soyoil and corn exporter, so lost crop volume tightens world feed protein supplies and supports prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2017-12-16 | [Conventional soybean meal prices jump sharply  : The Daily Digest](https://feedsoft.ai/events/67548-conventional-soybean-meal-prices-jump-sharply-the-daily-digest.md) | -2.4% | +1.2% |
| SBM | 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) | -0.1% | +5.6% |
| SBM | 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) | +4.2% | +9.0% |
| 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 | 2023-06-22 | [Central US drought intensifies, threatening grains and soy \| Reuters](https://feedsoft.ai/events/9769-central-us-drought-intensifies-threatening-grains-and-soy-reuters.md) | -7.3% | +1.1% |
| SOY | 2017-12-16 | [Conventional soybean meal prices jump sharply  : The Daily Digest](https://feedsoft.ai/events/67548-conventional-soybean-meal-prices-jump-sharply-the-daily-digest.md) | -1.8% | +0.2% |
| 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 | 2023-05-29 | [Corn, Soybeans and Wheat in the Grips of Drought - AgWeb](https://feedsoft.ai/events/13276-corn-soybeans-and-wheat-in-the-grips-of-drought-agweb.md) | +1.0% | +11.8% |

## Sources

- biofuelsdigest.com: https://biofuelsdigest.com/drought-dries-out-corn-and-soy-profits-raises-prices/

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