China's soybean market is in the doldrums.

Since the beginning of this year, China has implemented a target price subsidy policy for soybeans. Recently, the reporter interviewed in Heilongjiang Province, the main soybean producing area in China, and learned that Heilongjiang has had a bumper harvest this year, but the purchase and sales market is light, and the downward trend of soybean prices is very obvious. The market is in a wait-and-see mood. Soybean farmers and traders look forward to the introduction of soybean target price subsidy rules as soon as possible.

The soybean planting area in Tongjiang City, Heilongjiang Province is 360000 mu. Liu Gang, a villager of Weiming Village, Hezhe Township, Jiejinkou, Tongjiang City, planted 120 mu of soybeans this year, and the harvested soybeans were piled into hills in his yard. Liu Gang told reporters that in general, 300 jin per mu of soybeans is good, reaching 400 jin this year.

Hailun City, Heilongjiang Province is known as "the hometown of high-quality soybeans in China". Wang Huiqing, Nanyang Village, Leye Township, Hailun City, has planted more than 100 mu of soybeans this year. Wang Huiqing said that this year's soybean harvest is the best in recent years.

At the same time of the bumper harvest of soybeans, due to the abolition of the soybean temporary storage policy and the implementation of the new policy of soybean target price this year, the purchase price of soybeans in Heilongjiang is lower and the purchase and sale market is cold.

Yu Chunlong, manager of Hailun Tiande Agricultural and sideline products Distribution Co., Ltd., said that more than 3000 tons of soybeans have been purchased, and the price of new beans is 2.15 yuan per jin, down 0.04 yuan to 0.06 yuan per jin compared with before National Day holiday. "if we can't sell it in time, we'll have to lose money because the price is still falling, so we don't dare to accept it."

In November last year, China's soybean acquisition has entered a peak, the current soybean delivery peak has not yet arrived. Nong Jingyu, the third improved seed farm in Qiqihar City, said that at present, only part of the soybeans have been sold, almost all sold out in the same period last year, and it is very difficult to sell before the Spring Festival this year.

The reporter learned from the Heilongjiang Soybean Association that due to the impact of low-price imported soybeans and internal and external price differences and other factors, the vast majority of large-scale soybean processing enterprises in Heilongjiang Province are in a state of suspension. The demand momentum of domestic soybeans is insufficient, basically maintaining the demand level of last year.

Most traders and soybean farmers take a wait-and-see attitude. Both Yu Chunlong and Liu Gang said that the subsidy rules for the target price of soybeans have not been announced, and how to confirm the sales price, quality, and output of farmers have no base, and it is difficult to operate, and further observation is needed on the future market trend.

Bank credit for buying soybeans has also been greatly reduced. Zhu Defa, a customer director of the Agricultural Development Bank of Heilongjiang Province, said that the acquisition and lending of soybeans last year exceeded 13 billion yuan. So far this year, the Heilongjiang Branch of the Agricultural Development Bank has only lent to two or three soybean purchasing companies, with a loan scale of more than 20 million.

Industry insiders predict that as the details of the direct subsidy policy have not yet been announced, and the reserves of soybeans are sufficient, domestic soybeans are easy to fall and difficult to rise in the later period, and will continue to decline. Chinese soybean farmers and dealers hope to introduce specific soybean subsidies as soon as possible to protect farmers' enthusiasm for growing soybeans.