Agricultural production in Argentina, one of the main food producers' countries in the world,  is affected by inter-annual and inter-seasonal climatic fluctuations and extreme events. These events cause high variability in crop production affecting the economy at the regional and national level. Cordoba province, in the center of Argentina, is the first national producer of peanut, maize and soybean. This study aims to understand the variability of droughts and its effects on agricultural production and to identify the opportunities for and obstacles to adaptation to drought in the southern region of Córdoba province. Drought indices, regional crop production and yield trends were used to understand the behavior and impacts of drought. Through ethnographic research involving semi-structured household survey with open and close questions, focus groups discussions and in-depth interviews, coping strategies currently used to manage climate risk were identified. Changes in the planting date, crop mix, crop type,  and the use of crop insurance and climate information were mentioned in most of the cases. Other stressors like market behavior, fiscal and economic policies changes, etc. were also identified as additional threats. Although these strategies and significant technological improvements (no-till, precision agriculture, and the introduction of new crop varieties resistant to pests and diseases) were applied to agricultural production, increase yields and reduction of yields variability could not be achieved in the face droughts. The analysis underscore the necessity for new and advanced strategies to attain stable food production, improve food quality and preserve agriculture ecosystems health.