豆粕：隔夜美豆小幅收涨，连粕或震荡；豆一：现货逐步进入假期模式，盘面震荡

Report Industry Investment Rating - Not mentioned in the provided content Core Viewpoints - Overnight US soybeans closed slightly higher, and Dalian soybean meal futures may fluctuate; the spot market for soybeans is gradually entering the holiday mode, and the futures prices may fluctuate [1] - The soybean futures on the Chicago Board of Trade (CBOT) mostly closed higher, with the benchmark contract rising 0.2% for the third consecutive trading day, boosted by President Donald Trump's statement that China will increase soybean purchases [3] Summary by Relevant Catalogs 1. Fundamental Tracking - Futures Prices: DCE soybean No.1 2605 closed at 4,378 yuan/ton during the day session, down 12 yuan (-0.27%), and 4,392 yuan/ton at night, up 14 yuan (+0.32%); DCE soybean meal 2605 closed at 2,735 yuan/ton during the day session, up 5 yuan (+0.18%), and 2,745 yuan/ton at night, up 7 yuan (+0.26%); CBOT soybeans 03 closed at 1,114.75 cents/bushel, up 2.5 cents (+0.22%); CBOT soybean meal 03 closed at 303.4 dollars/short ton, up 0.2 dollars (+0.07%) [1] - Spot Prices: In Shandong, the spot price of soybean meal is 3,040 - 3,100 yuan/ton, with a change of -10 to +10 yuan compared to the previous day; in East China, it is 3,020 - 3,100 yuan/ton, with a change of flat to +20 yuan; in South China, it is 3,060 - 3,170 yuan/ton, with a change of flat to +30 yuan [1] - Industrial Data: The trading volume of soybean meal was 5.9 million tons per day on the previous trading day, and the inventory was 89.95 million tons per week two trading days ago [1] 2. Macro and Industry News - On February 6, CBOT soybean futures mostly closed higher, with the benchmark contract rising for the third consecutive day, driven by Trump's statement that China will increase soybean purchases to 20 million tons this year [3] - The US Department of Agriculture will release the January supply and demand report on February 10. Analysts predict that the US soybean ending stocks for the 2025/26 season will be 347 million bushels, 3 million bushels lower than the government's January forecast; the global soybean ending stocks are expected to be 125.3 million tons, higher than the government's January forecast of 124.41 million tons [3] - Brazilian government data shows that Brazil's soybean exports in January were 1.88 million tons, down 44.5% from December but up 75.5% from January last year [3] - The Buenos Aires Grain Exchange reported that the good-to-excellent rate of Argentine soybean crops is 40%, down 9% from a week ago but still much higher than 20% in the same period last 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]