On the domestic front,the main soymeal contract is likely to exhibit wide-range fluctuations today, with upside resistance at Yuan 3,080-3,100/tonne and downside support at Yuan 3,040-3,050/tonne, accompanied by increased intraday volatility. The operating rate of domestic crush plants, based on a full national dynamic sample, stands at a relatively low 51.04%, with weekly soybean crushing volume around 1.7 million tonnes. Soymeal inventories have notably decreased to 620,000 tonnes. Yesterday, soymeal spot prices fell first and then rose, with downstream replenishment and pickup improving significantly, leading to transactions of nearly 300,000 tonnes, indicating a release of short-term end-users procurement demand. Spot basis remains high, providing support for futures prices. Unclear overseas situations have raised expectations for demand for soybean oil and soymeal feedstocks, which is bullish for U.S. soybeans. Furthermore, imported soybean supplies may tighten in March-April.