Macroeconomics

1. [Logistics Industry Business Climate Index] According to the China Federation of Logistics and Purchasing, China's logistics industry business climate index was 50.9% in August, up 0.4 percentage points from the previous month. The total business volume index remained in the expansionary range for six consecutive months, and the new orders index remained in the expansionary range for seven consecutive months.

2. [US ISM Manufacturing Index] The US ISM manufacturing index rose slightly to 48.7 in August from 48 in July, below the market expectation of 49, and remained below the boom-bust line for six consecutive months. The new orders index rose to 51.4, the first expansion since the beginning of the year. However, the output index fell 3.6 points to 47.8, falling back into contractionary territory.

3. [Eurozone CPI] The eurozone CPI rose 2.1% year-on-year in August, compared with expectations of a flat 2%. The core CPI fell slightly to 2.3% year-on-year, in line with market expectations. The closely watched service price increase slowed to 3.1%.

4. [ECB] Hawkish ECB Executive Board member Schnabel said the ECB should pause interest rate cuts as inflation risks are tilted to the upside.

5. [Bank of Japan] Bank of Japan Deputy Governor Yoshizo Himino stated that, given the improving economic and price trends, continuing to raise interest rates is an appropriate policy option. He emphasized that despite the Bank of Japan's three interest rate hikes, Japan's real interest rates remain significantly low due to persistent inflation, and there is still room for monetary policy normalization.

6. [South Korea CPI] South Korea's CPI rose 1.7% year-on-year in August, narrowing by 0.4 percentage points from the previous month and reaching its lowest level since November of last year.

Agricultural and sideline products

1. [Fats and Oils] National Grain and Oils Information Center: According to monitoring, as of August 29, domestic commercial inventories of the three major oils and fats stood at 2.51 million tons, up 100,000 tons from the previous week, 150,000 tons from the previous month, and 460,000 tons from the previous year. This represents a 420,000-ton increase from the average for the same period over the past two years, reaching a recent high.

2. [Grains] A report released by ProZerno indicates that Russia's grain production will reach 134.8 million tons in 2025, 3.5 million tons higher than the July forecast.

3. [Soybeans] A report released by StoneX on September 1st indicated that Brazil's soybean and first-quarter corn production forecasts for 2025/26 remain unchanged. The soybean production forecast remains at a record 178.2 million tons, while first-quarter corn production is expected to be 25.6 million tons, a slight year-on-year increase of 0.5%.

4. [Palm Oil] According to data released by shipping research firm SGS, Malaysia's palm oil exports from August 1 to 31 are expected to reach 1,170,043 tons, a 30.53% increase from the 896,362 tons exported in the same period last month.

5. [Palm Oil] Data from the Southern Peninsula Palm Oil Pressers Association (SPPOMA) indicates that from August 1 to 31, 2025, Malaysia's palm oil yield per unit area decreased by 4.18% month-on-month, while oil extraction increased by 0.29% and production decreased by 2.65% month-on-month.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.