豆粕：贸易担忧、美豆偏弱，连粕震荡，豆一，震荡

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - The report focuses on the market conditions of soybeans and soybean meal, with CBOT soybeans falling due to good weather in US soybean - growing areas and weak Chinese demand, and the prices of DCE soybeans and soybean meal showing fluctuations [3] Group 3: Summary by Relevant Catalogs 1. Fundamental Tracking - Futures Prices: DCE Soybean 2509 closed at 4131 yuan/ton during the day session, down 21 yuan (-0.51%), and 4133 yuan/ton at night, down 4 yuan (-0.10%); DCE Soybean Meal 2509 closed at 3000 yuan/ton during the day session, down 1 yuan (-0.03%), and 3002 yuan/ton at night, down 4 yuan (-0.13%); CBOT Soybean 11 was at 990.25 cents/bushel, down 5.75 cents (-0.58%); CBOT Soybean Meal 12 was at 276.3 dollars/short - ton, up 2.0 dollars (+0.73%) [1] - Spot Prices: In Shandong, the price of soybean meal (43%) was 2900 - 2940 yuan/ton, with different basis prices for different months; in East China, the price was 2920 yuan/ton in a certain factory in Lianyungang, up 20 yuan compared to the previous day, and also had different basis prices for different months; in South China, the price was 2900 - 2910 yuan/ton, remaining flat compared to the previous day, with corresponding basis prices for different months [1] - Main Industry Data: The trading volume of soybean meal was 41.5 million tons/day on the previous trading day, compared to 29.71 million tons/day two trading days ago; the inventory was 96.1 million tons/week on the previous trading day, compared to 90.83 million tons/week two trading days ago [1] 2. Macro and Industry News - On July 31, CBOT soybeans closed lower, hitting the lowest level since April, due to good weather in US soybean - growing areas and weak Chinese demand. The current weather forecast is extremely bearish for prices. China, the world's largest soybean importer, is still absent from the US soybean market, and there is a deadline for a long - term tariff agreement with the Trump administration on August 12. Trade insiders believe that China's demand for soybeans may weaken later this year [3] 3. Trend Intensity - The trend intensity of soybean meal and soybeans is 0, indicating a neutral trend for the day - session main - contract futures prices on the reporting day [3]