Northeast China's Heilongjiang province will auction 246,000 tons of soybeans from provincial reserves on Dec 3, Bloomberg reported, citing the Harbin National Grain Trade Center.

Related readings:  Pricy grain is forecast  Soybean imports set to surge  Soybean, oil supplies 'ample'  Counting the cost as inflation strikes nation

The soybeans were harvested in 2008, the auction center said on its website Grain.hl.cn on Dec 1. Only crushers located in the province with daily crushing capacity of more than 500 tons can participate and the purchases may not be resold, the center said.

The soybeans will be offered at a minimum bidding price of 3,633 yuan ($545) a ton, Cnyouzhi.com said on its website on Dec 2, without saying where it got the information.

Separately, China's central grain manager will auction 300,000 tons of soybeans on Dec 3, the National Grain & Oil Trade Center said last week.