Ukraine is likely to have a record high soybean harvest in 2024 despite poor weather, due to a large sowing area, analyst APK-Inform said on Tuesday.

The consultancy said the harvest could rise to up to 6 million metric tons, or 9% more than in 2023.

APK-Inform said the updated official data showed that 2.66 million hectares (6.57 million acres) were sown for soybeans in 2024, or 44% more than in 2023.

The consultancy said it estimated the sown area at 2.6 million hectares (6.42 million acres).

Ukraine traditionally exports most of its soybean harvest and Ukrainian grain traders union UGA said the country exported around 3 million tons of the commodity in the 2023/24 season from the harvest of 4.9 million tons.

Source: Reuters (Reporting by Pavel Polityuk; editing by Jonathan Oatis)