# Soybeans set to gain for 4th year amid Argentina drought, China demand

> Chicago soybeans rose to about $15.26 a bushel as a severe drought in Argentina threatened its output. Expectations of stronger Chinese demand after COVID controls eased also supported the market. Wheat and corn also edged higher.

- Date: 2023-01-02 · published 2023-01-02T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/8620-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Argentina is a major soybean and meal exporter, so drought-related output losses tighten global supply. Recovering Chinese imports, the world's largest, add further support to prices.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2023-01-02 | 1 | +4.0% | 3.8 | Dated on the move day, it reports a severe Argentina drought threatening soybean and soymeal output (Argentina is the top meal exporter) plus stronger Chinese demand expectations, directly supporting a supply-driven rally in meal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-12-30 | [Soybeans set to gain for 4th year amid Argentina drought, China demand \| Financial Post](https://feedsoft.ai/events/38279-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand-financial.md) | -0.5% | +1.8% |
| SOY | 2021-11-29 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - Bloomberg](https://feedsoft.ai/events/14070-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-bloomberg.md) | +1.2% | +8.8% |
| SOY | 2023-04-24 | [Argentina Soybean Crop Smallest in 25 Years Due to Historic Drought - AgWeb](https://feedsoft.ai/events/13969-argentina-soybean-crop-smallest-in-25-years-due-to-historic-drought-agweb.md) | -2.6% | -11.9% |
| 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 | 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) | +1.6% | +6.8% |
| SBM | 2021-11-29 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - Bloomberg](https://feedsoft.ai/events/14070-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-bloomberg.md) | +1.9% | +13.4% |
| SBM | 2023-04-24 | [Argentina Soybean Crop Smallest in 25 Years Due to Historic Drought - AgWeb](https://feedsoft.ai/events/13969-argentina-soybean-crop-smallest-in-25-years-due-to-historic-drought-agweb.md) | -1.9% | -7.8% |
| 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% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand/

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