APK-Inform, an analyst, said that despite the bad weather, Ukraine will likely have a record soybean harvest in 2024 due to its large sowing area.

The consultancy estimated that the harvest would be up to 6,000,000 metric tons or 9% higher than 2023.

APK-Inform reported that the updated data indicated that 2,66 million hectares (or 6,57 million acres) of soybeans were planted in 2024. This is 44% more than 2023.

The consultancy estimated that the area sown was 2.6 million hectares (6.4 million acres).

Ukraine exports the majority of its soybean harvest. According to the Ukrainian grain traders' union UGA, the country exported approximately 3 million tons in 2023/24 from a harvest of 4.9 millions tons. (Reporting and editing by Jonathan Oatis; reporting by Pavel Polityuk)

(source: Reuters)