Soybean prices on Dalian Commodity Exchange are expected to close almost unchanged this week with a wait-and-see attitude among traders on the South American bean market.
"The market lacks significant information to break its current stagnant situation," said Fu Qiang, a Southwest Futures Inc analyst.
"Traders choose to sit on the sidelines waiting to see the prices trend."
The current situation is inactive trading, almost unchanged positions and little prices changes, he said.
Fu said China's announcement of an interest-rate rise last week will have little effect on soybean prices because interest-rates changes don't necessarily affect crop demand.
China's central bank raised its benchmark interest rates for the first time in nine years last Friday.
Fu said the bean market has the potential to gain ground in the future but it lacks fresh news to stimulate prices at present.
"One eye-catching factor in the market is the production forecast for South America, including Argentina and Brazil," he said.
Weather in South American countries will be the main factor to affect soybean prices because this year's US soybean harvest is nearing its end, he said.
Fu said January soybeans may fluctuate between 2,580 yuan (US$310.84) and 2,650 yuan a ton this week.
January soybean, the most heavily traded contract in Dalian, shed 6 yuan to end at 2,620 yuan a ton there yesterday.
The crop gained 16 yuan to 2,626 yuan a ton last week.