The domestic soybean market has limited room to rise.

First of all, the domestic soybean import port is in a high position. According to relevant statistics, as of the week of September 19, China's imported soybean port inventory was about 6.57 million tons, slightly higher than in early September, higher than the same period last year level of 6.28 million tons, higher than the average of 6.39 million tons in the past five years.

Secondly, the overall domestic spot trading is light. According to statistics, on September 20, the price of US-West soybean in Rizhao Port was around 3680-3700 yuan / ton, while that of Meiwan Bean in Qingdao Port was 3700-3720 yuan / ton. The overall trading in the port was weak. In addition, soybeans in Heilongjiang production areas also showed a light trading situation, the purchase and sale market is relatively stable. It is understood that at present, the surplus grain in most areas has basically bottomed out, and traders have stopped buying and waiting for new beans to appear on the market. The market expects that a small number of new beans will begin to appear on the market sporadically in mid-late September and will increase significantly after October.

Finally, the temporary storage auction to increase the supply of soybeans. According to the research and decision of the relevant state departments, the temporary storage auction of soybeans will be carried out normally on September 23, with the auction quantity still 600000 tons, the target years are 2012 and 2013, and the regions are Heilongjiang and Inner Mongolia. The temporary storage auction of soybeans will continue to increase the supply of soybeans, which puts pressure on the rising price of soybeans.

To sum up, the soybean harvest in China and the United States is approaching, and the high yield expectation tends to be clear. At the same time, the domestic imported soybean port is in a high position, the overall spot trading is light, the state reserve auction soybean supply and other factors, the upward movement of soybean is limited.