豆粕：震荡，豆一：震荡

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - On October 9, CBOT soybean futures fell after two consecutive days of gains due to long - profit taking, active technical selling, and increased concerns about Sino - US trade. The delay of the USDA's monthly supply - demand report and uncertainties in the farmer assistance plan also affected the market. There are concerns about Sino - US trade war solutions, and a weak La Nina may increase drought risks in major producing areas [1][2] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Prices: DCE Bean No.1 2511 closed at 3975 yuan/ton during the day session, up 46 yuan (+1.17%), and 3960 yuan/ton at night, unchanged; DCE Soybean Meal 2601 closed at 2939 yuan/ton during the day session, up 6 yuan (+0.20%), and 2929 yuan/ton at night, down 5 yuan (-0.17%); CBOT Soybean 11 closed at 1021.75 cents/bushel, down 8.0 cents (-0.78%); CBOT Soybean Meal 12 closed at 276.6 dollars/short ton, down 1.5 dollars (-0.54%) [1] - Spot Prices: In Shandong, the spot price of soybean meal (43%) is 2950 - 2980 yuan/ton, up 10 yuan or unchanged compared to before the holiday, with different basis levels for different months. In East China and South China, different companies have different spot prices and basis levels for different months [1] - Main Industry Data: The trading volume of soybean meal was 12.35 million tons/day on the previous trading day, compared to 12.04 million tons/day two days ago; the inventory was 111.82 million tons/week [1] 3.2 Macro and Industry News - On October 9, CBOT soybean futures declined. Reasons include long - profit taking, active technical selling, and increased concerns about Sino - US trade. The USDA postponed the monthly supply - demand report due to the federal government shutdown, and the details of the 10 - 15 billion dollars farmer assistance plan are not announced. China expanded rare - earth export controls, and Sino - US leaders will meet later this month to discuss soybean purchases [1][2] 3.3 Trend Intensity - The trend intensity of soybean meal and Bean No.1 is 0, indicating a neutral situation for the day - session main - contract futures price fluctuations on the reporting day [2]