Soybean market prices in China have been fluctuating due to factors such as planting expansion, production increase, weak downstream consumption, and the new crown epidemic. Prices have dropped more in the Northeast, leading to increased sales pressure. In response, departments and localities are focusing on market-based acquisitions, improving docking services for soybean production and sales, and implementing policy-based purchasing and storage of soybeans to stabilize the market and ensure farmer income. China Grain Group Co., Ltd. has announced a plan to purchase domestically produced soybeans from the major production areas of Heilongjiang and Inner Mongolia, setting the purchase price for the new season at 2.775 yuan per catty, around 5 cents higher than the previous price.