This paper explores the unequal distribution of the environmental and social costs and benefits of the genetically modified (GM) soy model in Argentina and its impact on grievance formation and the emergence of contestation. In the 1990s, Argentina transitioned into a neoliberal agro‐industrial model based on producing GM soy for export. Though celebrated as a success, the expansion of GM soy monocultures has brought widespread socio‐ecological disruption. Various social actors have started to mobilize against the resulting environmental injustice. I focus on the peasant–indigenous movement in the north of the country, which is struggling for land rights, and the movements against agrochemical spraying in the central Pampas region. These groups, which are relatively powerless to control resources where they live, and that experience little or no benefit from GM soy production, nevertheless bear most of its social and ecological costs. These struggles link environmental and social well‐being, becoming struggles for ecological sustainability as well as social justice and equity.