Soybean prices keep climbing with strong momentum, and there is ample room for further gains ahead.

Looking back at this question now, the uncertainty has become much smaller. It can be stated clearly that this year's soybean market price will definitely be higher than last year's, and there should still be a good price level. Last year's soybean harvest price was basically 1.6-1.7 yuan per jin, while now it is basically stable at 1.75 yuan per jin. And judging from the current flow of news, this price is not the endpoint; there will still be room for further gains ahead.

First, since April this year the China-US trade issue has been constantly affecting market prices, and influenced by this news, domestic soybean prices rose at one point. Then in mid-June our country officially announced a 25% tariff on US soybeans; by calculation, the price of US soybeans arriving at port will reach 4125 yuan per ton, a price that has already surpassed the price of domestically grown soybeans in our country.

And our country imports 34 million tons of soybeans from the United States every year, a huge amount, and looking across the soybean output of countries around the world, it can be said that such a massive quantity of soybeans would be difficult for any other country to replace. Although Brazil's soybean output is as high as more than 100 million tons, it has already shipped more than 50 million tons to our country, and further increasing its export volume would be very difficult. Argentina need not even be mentioned, with an output of only 50 million tons. In other words, a situation in which our country's soybean supply is relatively tight in the future is highly likely.

As for soybean demand, demand for soybeans is also very robust. Looking at data from recent years, our country's soybean demand has been rising every year. Take import data as an example: from the initial tens or hundreds of thousands of tons per year to nearly 100 million tons per year now, it can be said that our country's demand for soybeans has been gradually rising, all of which is closely tied to the continuous increase in production capacity in our country's soybean processing industry.

Today our country's soybean industry relies excessively on imported soybeans, and the government has also noticed the problems in this regard. This year it not only increased soybean planting subsidies, but also issued soybean planting expansion plans to various localities, increasing soybean planting area to ensure our country's soybean demand.

It should be said that this year, both the government and market conditions are providing effective support for soybeans. With our country's soybean demand increasing somewhat while supply has declined somewhat, it is believed that our country's soybeans will have a good price this year.

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