Ukraine expects record soybean harvest – USDA forecast
The United States Department of Agriculture (USDA) in its July report significantly revised its forecast for Ukraine’s soybean harvest for the 2025/26 season, raising it by 1 million tons to a record 7.6 million tons. This exceeds both previous expectations and the result of the previous record season (7 million tons). The change is based on official data on larger sown areas than previously expected.
In a global context, world soybean production is estimated at 427.7 million tons — 0.86 million tons more than in June. The forecast for the United States was slightly lowered to 117.9 million tons, while for Brazil (175 million tons) and Argentina (48.5 million tons) remained unchanged. World exports decreased to 187.6 million tons, mainly due to a decrease in supplies from the United States, although this was partially offset by an increase in exports from Ukraine (up to 4.2 million tons) and Argentina. Global ending stocks rose to 126.07 million tonnes, but remain below average market expectations.
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