Against the backdrop of an increase in soybean planting area, there has also been a significant increase in soybean production. According to official statistics on soybean area, soybean production is expected to be 19.48 million tons in 2022, an increase of about 3 million tons compared to the previous year.

According to Mysteel's research, the soybean production areas in the south have a good yield per mu, while Shandong, Anhui, and Henan have a relatively high yield per mu in the past three years. Due to the continuous dry weather in July, the yield level in Hubei province has significantly decreased compared to 21 years ago. The soybean yield in the Northeast region is also at a relatively high level, with dense soybean pods and small particles, but the yield is basically not affected.

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The change trend of China's soybean yield is basically the same as that of the planting area. Under the background of the "expansion of soybean" in the No. 1 central document, the planting area of soybean has increased, and the yield has also increased significantly. In 2022, the soybean yield will be about 19.48 million tons. The increase in soybean planting area from 2017 to 2020 has also led to an increasing trend in production in the past four years, with China's soybean production reaching 18.1 million tons in 2020, the highest in the past five years. In 2021, due to the reduction of soybean planting area, the soybean yield per unit area in Shandong and Henan decreased, and the officially announced soybean yield in 2021 was 16.4 million tons.

In 2022, soybean production increased, but the demand side performance was weak, and the operating rate of soybean product factories was not high. Since October, the production and marketing areas have all experienced the COVID-19, and the soybean market has been slower to sell. With the slow progress of grain sales, the supply pressure has shifted backward, and the overall market may not be optimistic.