豆粕：担忧出口、美豆下跌，连粕或偏弱，豆一：国际豆价下跌，盘面或调整

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - Due to concerns about exports and a drop in US soybean prices, the Dalian Commodity Exchange (DCE) soybean meal may be weak; with the decline in international soybean prices, the DCE soybean futures may adjust [1] - On March 16, CBOT soybean futures closed sharply lower, hitting the biggest single - day decline since 2023, with the May and July contracts hitting the limit - down, as the possible delay of the Sino - US leaders' meeting dampened market optimism about increased US soybean exports to China [3] Group 3: Summary by Relevant Catalogs 1. Fundamental Tracking Futures - DCE soybean 2605 closed at 4956 yuan/ton during the day session, up 24 (+0.49%), and 4908 yuan/ton at night, down 26 (-0.53%) - DCE soybean meal 2605 closed at 3071 yuan/ton during the day session, down 61 (-1.95%), and 3032 yuan/ton at night, down 51 (-1.65%) - CBOT soybean 05 closed at 1155.25 cents/bushel, down 68.5 (-5.6%) - CBOT soybean meal 05 closed at 312.5 dollars/short ton, down 9.7 (-3.01%) [1] Spot - In Shandong, the spot price of soybean meal (43%) was 3300 - 3400 yuan/ton, with different basis levels for different months and delivery times - In East China, the spot price of soybean meal had different basis levels and price changes compared to the previous day - In South China, the spot price of soybean meal also had different basis levels and price changes compared to the previous day - In the Northeast production area, the net purchase price of soybeans in Harbin, Wuchang, Shangzhi, Binxian, and Bayan was 4840 yuan/ton (previous trading day) [1] Main Industry Data - The daily trading volume of soybean meal was 17.5 tons (previous trading day), compared to 6.55 tons two days ago - The weekly inventory of soybean meal was 73.52 tons (previous trading day) [1] 2. Macro and Industry News - On March 16, CBOT soybean futures closed sharply lower. The possible delay of the Sino - US leaders' meeting dampened market optimism about increased US soybean exports to China. Trump said he might postpone the summit to pressure China to help lift the blockade of the Strait of Hormuz. If the summit is postponed, the trade agreement will also be delayed, and there is a risk of the agreement breaking down. China still adheres to the commitment to increase the purchase of US soybeans. Brazil is adjusting the inspection and quarantine requirements for soybeans exported to China, and as of March 12, the Brazilian soybean harvest progress was 61%, lower than 70% in the same period last year [3] 3. Trend Intensity - The trend intensity of soybean meal is - 1; the trend intensity of soybeans is - 1, mainly referring to the price fluctuations of the main - contract futures on the day of the report [3]