豆粕：中美贸易摩擦缓和，震荡，豆一：震荡

Report Investment Rating - The investment rating for soybeans is "Oscillating" [2] - The investment rating for soybean meal is "Oscillating with the easing of Sino - US trade frictions" [3] Core Viewpoints - The price of CBOT soybeans rose on October 17 due to strong domestic demand and improved prospects for Sino - US trade negotiations. The soybean futures on the Chicago Board of Trade (CBOT) also had their largest single - week gain in five weeks. Strong demand from US processing enterprises and record - high crushing rates alleviated concerns about insufficient Chinese demand. President Donald Trump's statement about a potential meeting with Chinese leaders further supported the market [2][4] - On October 18, Chinese and US economic and trade leaders held a video call and agreed to hold a new round of Sino - US economic and trade consultations as soon as possible [4] Summary by Relevant Catalogs 1. Fundamental Tracking Futures Prices - DCE Soybean 2601: The closing price in the day session was 4028 yuan/ton, up 10 yuan (+0.25%); the night - session closing price was 4028 yuan/ton, unchanged (+0.00%) [2] - DCE Soybean Meal 2601: The day - session closing price was 2868 yuan/ton, down 39 yuan (-1.34%); the night - session closing price was 2895 yuan/ton, up 27 yuan (+0.94%) [2] - CBOT Soybean 11: The price was 1021 cents/bushel, up 9.25 cents (+0.91%) [2] - CBOT Soybean Meal 12: The price was 281 dollars/short ton, up 3.7 dollars (+1.33%) [2] Spot Prices - Shandong: The price of soybean meal was 2960 - 2970 yuan/ton. The spot basis was M2601 + 90, unchanged or up 10 yuan. Different time - period basis had different changes [2] - East China: The price of soybean meal at Taizhou Huifu was 2870 yuan/ton, down 10 yuan from the previous day. The basis and its changes varied in different regions and time periods [2] - South China: The price of soybean meal was 2850 - 2990 yuan/ton, down 50 yuan or unchanged from the previous day [2] Main Industry Data - The trading volume of soybean meal was 5.24 million tons per day, compared with 11.52 million tons two days ago [2] - The inventory of soybean meal was 104.67 million tons the week before [2] 2. Macro and Industry News - On October 17, CBOT soybean futures rose due to strong domestic demand and improved prospects for Sino - US trade negotiations. The market also had its largest single - week gain in five weeks [2][4] - On October 18, Chinese and US economic and trade leaders held a video call and agreed to hold a new round of Sino - US economic and trade consultations as soon as possible [4] 3. Trend Intensity - The trend intensity of soybean meal is 0, and the trend intensity of soybeans is 0, referring to the price fluctuations of the main contracts in the day session on the reporting day [4]