玉米期价小幅下跌，期权隐波持续下降，豆粕期价小幅回升，期权隐波小幅上升

Report Summary 1. Industry Investment Rating - No industry investment rating information is provided in the report. 2. Core Viewpoints - Corn futures prices declined slightly, and the implied volatility of corn options continued to fall [1][2]. - Soybean meal futures prices rose slightly, and the implied volatility of soybean meal options increased slightly [1][2]. 3. Summary by Directory 3.1 Futures Market Data Statistics - Corn futures (C2509) closed at 2255 yuan/ton, down 12 yuan or 0.53%. The trading volume was 338,463 lots, a decrease of 26,786 lots, and the open interest was 659,407 lots, a decrease of 25,646 lots [3]. - Soybean meal futures (M2601) closed at 3094 yuan/ton, up 16 yuan or 0.52%. The trading volume was 609,803 lots, an increase of 82,719 lots, and the open interest was 1,650,480 lots, an increase of 49,993 lots [3]. 3.2 Options Market Data Statistics - Corn options had a trading volume of 164,762 lots, an increase of 53,766 lots. The volume PCR was 0.789, an increase of 0.193. The open interest was 497,389 lots, a decrease of 7,138 lots [8]. - Soybean meal options had a trading volume of 277,659 lots, an increase of 62,750 lots. The volume PCR was 0.467, a decrease of 0.056. The open interest was 1,063,962 lots, a decrease of 10,484 lots [8]. 3.3 Options Volatility Situation - The weighted implied volatility of corn options was 11.55%, a decrease of 0.57 percentage points or 4.70%. The 30 - day historical volatility was 8.37%, and the 30 - day volatility quantile was 0.12 [17]. - The weighted implied volatility of soybean meal options was 17.01%, an increase of 0.69 percentage points or 4.21%. The 30 - day historical volatility was 11.15%, and the 30 - day volatility quantile was 0.02 [17].