USDA maintains record soybean production forecast in Ukraine
Ukraine’s soybean production forecast for MY 2025/26 will remain at a record 7.6 million tons, according to the USDA’s August report, although local analysts are lowering estimates to 5.8–6.5 million tons due to adverse weather conditions. At the same time, the USDA has lowered its global soybean production forecast by 1.29 million tons to 426.39 million tons compared to the July report, which is still 0.6% higher than the previous season’s figure of 424 million tons.
The main adjustment to the global soybean balance is related to a decrease in the US harvest forecast by 1.1 million tons to 116.82 million tons due to a reduction in the sown area by 2.5 million acres to 80.9 million acres, despite an increase in yield to 53.6 bushels/acre (3.6 t/ha). This led to a reduction in the forecast for US soybean exports from 47.5 million tonnes to 46.4 million tonnes as China prefers purchases from Brazil and Argentina. World ending soybean stocks were reduced by 1.1 million tonnes to 124.9 million tonnes,.
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