豆粕：隔夜美豆继续收涨，连粕或跟随；豆一：现货稳定，盘面震荡

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - Overnight US soybeans continued to rise, and the Dalian soybean meal futures may follow [1] - The spot price of soybeans is stable, and the futures price is fluctuating [2] - The market is digesting Trump's statement that China will purchase 20 million tons of soybeans this year, which has boosted soybean prices [4] Group 3: Summary Based on Related Catalogs Fundamental Tracking - Futures Prices: DCE soybeans 2605 closed at 4,382 yuan/ton during the day session, down 3 yuan (-0.07%), and 4,378 yuan/ton at night, down 12 yuan (-0.27%); DCE soybean meal 2605 closed at 2,731 yuan/ton during the day session, up 6 yuan (+0.22%), and 2,735 yuan/ton at night, up 5 yuan (+0.18%); CBOT soybeans 03 closed at 1,110.75 cents/bushel, up 18.75 cents (+1.72%); CBOT soybean meal 03 closed at 302.8 dollars/short ton, up 6.4 dollars (+2.16%) [2] - Spot Prices: The spot price of soybean meal in Shandong is 3,030 - 3,090 yuan/ton, with a change of -10 to +10 yuan compared to the previous day; in East China, it is 3,020 - 3,080 yuan/ton, with a change of -20 to +10 yuan; in South China, it is 3,040 - 3,160 yuan/ton, with a change of -10 yuan to flat [2] - Industrial Data: The trading volume of soybean meal was 95,000 tons per day, compared with 236,800 tons two days ago; the inventory was 899,500 tons per week, compared with 888,100 tons two weeks ago [2] Macro and Industry News - On February 5, 2026, CBOT soybean futures rose for the second consecutive day, breaking through the $11 mark for the first time in more than two months, as the market digested Trump's statement that China will purchase 20 million tons of soybeans this year [2][4] - Since the trade truce was reached at the end of October last year, China has booked about 12 million tons of soybeans. This means that China may purchase an additional 8 million tons of US soybeans in the remaining time of the 2025/26 season [4] - Some analysts believe that China's move may be a political gesture to prepare for Trump's visit to China in April, considering the higher import cost. The current FOB price difference between Brazilian soybeans and US soybeans is about $50 per ton [4] Trend Intensity - The trend intensity of soybean meal is +1, and that of soybeans is 0, mainly referring to the price fluctuation of the main contract of the day session on the reporting day [4]