BEIJING (Dow Jones)--Soybean prices in China's major producing areas were
stable in the week to Friday, supported by the government's efforts to shore up
commodities prices.

  Soybean prices in Harbin city in Heilongjiang, a major producing province,
were around CNY3,460 a metric ton, unchanged from levels ahead of the Chinese
New Year holiday last week.

  In Jiamusi in the same province, prices were between CNY3,320-CNY3,360/ton,
also stable from pre-holiday levels.

  The government has taken a clear stance in support of commodities prices from
soybeans to cotton and from copper to zinc, and this has lent strong support to
market prices, Heilongjiang Jiusan Oil and Fat Co. said in a note.

  Farmers in Heilongjiang province have sold 3.12 million tons of soybean to
the market as of Jan. 31, about 50% of the total planned sales volume for the
crop year that started in October, according to data from the China National
Grain and Oils Information Center.

  Meanwhile, the government has purchased 1.77 million tons of soybean from
farmers in the province, it said.

  China's autumn 2008 soybean harvest was estimated at 16.5 million tons by the
CNGOIC, up 30% on year.

  Soyoil prices were lower on increased supply as soybean processing plants
restarted operations, while demand is weak after the Chinese New Year.

  First-grade soyoil prices in Dongguan, Guangdong province were around
CNY7,050/ton, lower than CNY7,200-CNY7,250/ton before the holiday.

  In Rizhao, Shandong province, they were around CNY6,950-CNY7,000/ton,
compared with CNY7,100-CNY7,200/ton.

  Soymeal prices were also lower on weakening demand.

  In Dongguan, soymeal was around CNY3,200-CNY3,380/ton, down from
CNY3,600-CNY3,650/ton a week ago.

  Some market participants expected soymeal demand to remain weak in the coming
weeks.