豆粕：隔夜美豆收跌，或偏弱震荡；豆一：国储继续抛储，盘面调整震荡

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The soybean market shows a typical "buy the rumor, sell the fact" trend. After the U.S. EPA officially announced the renewable fuel standard, long - position holders who entered the market due to expected bullish factors chose to take profits before the weekend. The new regulations were generally expected, leading to a decline in CBOT soybean futures on March 27 [3]. - Some analysts expect that due to the soaring fertilizer costs caused by shipping disruptions in the Strait of Hormuz, farmers will shift more land originally planned for corn to soybean cultivation. The U.S. soybean planting area is expected to increase by 3 - 5 million acres this year, while the corn planting area will decrease accordingly [3]. Summary by Related Catalogs Fundamental Tracking - Futures Prices: DCE Bean No.1 2605 closed at 4553 yuan/ton, down 63 yuan (1.36%) during the day session and 4554 yuan/ton at night, down 26 yuan (-0.57%); DCE soybean meal 2605 closed at 2937 yuan/ton during the day, down 14 yuan (-0.47%) and 2943 yuan/ton at night, up 10 yuan (+0.34%); CBOT soybean 05 closed at 1159.5 cents/bushel, down 14.25 cents (-1.21%); CBOT soybean meal 05 closed at 321.5 dollars/short - ton, down 7.12 dollars (-2.20%) [1]. - Spot Prices: In different regions, the spot price of soybean meal has different changes and basis levels. For example, in Shandong, the price is flat or up 20 yuan/ton, and the basis is M2605 + 270/+280/+300 etc. In Northeast China, the net - grain purchase price of soybeans in Bayan is 4700 yuan/ton [1]. - Industrial Data: The trading volume of the main industry was 2.75 million tons/day on the previous trading day, down from 4.9 million tons/day two trading days ago. The inventory was not available on the previous trading day, and it was 64.18 million tons/week two trading days ago [1]. Macro and Industry News - On March 27, CBOT soybean futures closed lower. After the U.S. EPA announced the renewable fuel standard, long - position holders took profits. The new regulations require an over 60% increase in biodiesel and renewable diesel production and consumption compared to 2025, and raise the proportion of fuel quotas allocated to large refineries from 50% to 70% [3]. - The U.S. Department of Agriculture's single - day export sales report shows that private exporters sold 105,000 tons of soybeans to unknown destinations for delivery in 2025/26 [3]. Trend Intensity - The trend intensity of soybean meal and Bean No.1 is 0, indicating a neutral trend for the day - session main - contract futures prices on the reporting day [3].