豆粕：美豆收跌，连粕调整震荡，豆一：调整震荡

Group 1: Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Group 2: Core Viewpoints of the Report - On July 21, CBOT soybean futures closed lower due to favorable rainfall in the US Midwest this week alleviating the pressure from previous high - temperatures, and the uncertainty of Sino - US trade negotiations also pressured the market. The soybean crop's growth pressure is expected to be reduced by the rainfall despite a brief high - temperature period in the mid - week in the US Midwest. The 8 - month 1 - day tariff deadline may intensify negative market sentiment as few countries have reached agreements with the US. As of July 20, the US soybean good - to - excellent rate was 68%, lower than the previous week and market expectations [3]. Group 3: Summary by Relevant Catalogs 1. Fundamental Tracking Futures - DCE Bean 1 2509 closed at 4199 yuan/ton (+1, +0.02%) during the day session and 4188 yuan/ton (+12, +0.29%) during the night session. DCE Bean Meal 2509 closed at 3069 yuan/ton (+26, +0.85%) during the day session and 3061 yuan/ton (+2, +0.07%) during the night session. CBOT Soybean 11 closed at 1026.75 cents/bushel (-8.25, -0.80%), and CBOT Bean Meal 12 closed at 284.9 dollars/short ton (-3.9, -1.35%) [1]. Spot - In Shandong, the spot price of bean meal (43%) was 2920 - 2950 yuan/ton, flat; different basis prices were given for different months. In East China, the price was 2900 - 2930 yuan/ton, up 10 or 20 yuan/ton compared to the previous day, with corresponding basis prices for different months. In South China, the price was 2920 - 2990 yuan/ton, -10 to +10 yuan/ton compared to the previous day, and Hainan Aosika had specific spot basis prices [1]. Main Industry Data - The trading volume of bean meal was 14.95 million tons per day, and the previous trading volume was 14.31 million tons per day. The inventory data was not available, and the previous inventory was 84.29 million tons per week [1]. 2. Macro and Industry News - On July 21, CBOT soybean futures closed lower. The main reasons were the expected favorable rainfall in the US Midwest this week to relieve the high - temperature pressure and the uncertainty of Sino - US trade negotiations. The US soybean good - to - excellent rate as of July 20 was 68%, lower than the previous week and market expectations [3]. 3. Trend Intensity - The trend intensity of bean meal and bean 1 was 0, referring to the price fluctuations of the main contract during the day session on the report day [3].