Macroeconomics

1. [Automobile] According to preliminary statistics from the China Passenger Car Association (CPCA), in August, the national new energy vehicle market saw retail sales of 1.079 million units, a year-on-year increase of 5% and a month-on-month increase of 9%. The national new energy vehicle market penetration rate reached 55.3%. Year-to-date, cumulative retail sales reached 7.535 million units, a year-on-year increase of 25%.

2. [Federal Reserve] Federal Reserve Board Governor Waller stated that the Fed should begin cutting interest rates this month and make multiple cuts in the coming months, but he remained open to the specific pace of rate cuts, believing that this would depend on future economic data.

3. [US Job Vacancies] The US Job Openings Index (JOLTS) for July reached 7.181 million, the lowest level since September 2024 and below expectations. The previous reading was revised down from 7.437 million to 7.36 million. July's JOLTS vacancies were the second time since the end of 2020 that the number of JOLTS vacancies fell below 7.2 million.

4. [Eurozone PMI] The final Eurozone Composite PMI for August rose slightly to 51, revised down 0.1 percentage point from the initial reading, reaching a 12-month high; the Services PMI fell to 50.5 from 51 in July.

5. [Bank of Japan] Bank of Japan Governor Kazuo Ueda, after a meeting with Prime Minister Shigeru Ishiba, stated that the Bank of Japan will raise interest rates if Japan's economic growth and prices meet expectations. Ueda revealed that the two sides exchanged views on economic, price, and market trends, and also discussed exchange rate issues.

Agricultural and Sideline Products

1. [Sugar] As of the end of August, Yunnan Province had sold a total of 2.0823 million tons of sugar, with a sales rate of 86.09%, a year-on-year increase of 0.83%. Industrial inventory stood at 336,400 tons. Of this total, 130,900 tons of sugar were sold in August alone, compared to 141,000 tons in the same period last year.

2. [Sugar] As of the end of August, Guangxi Province had sold a total of 5.7563 million tons of sugar, a year-on-year increase of 299,700 tons. The sales rate was 89.04%, a year-on-year increase of 0.62%. Industrial inventory stood at 708,700 tons, a year-on-year decrease of 16,100 tons.

3. [Corn] The latest weekly crop progress report from the U.S. Department of Agriculture shows that as of the week ending August 31, the quality-to-excellence rating for U.S. corn was 69%, in line with market expectations, compared to 71% the previous week and 65% the same period last year. As of that week, the maturity rate of U.S. corn was 15%, compared to 7% the previous week and 18% the same period last year, with a five-year average of 14%.

4. [Soybeans] The USDA's latest weekly crop progress report shows that 65% of US soybeans were in good to excellent condition for the week ending August 31, compared to market expectations of 68%, 69% the previous week, and 65% a year earlier. Pod-set was 94% for the week ending August 31, compared to 89% the previous week, 93% a year earlier, and the five-year average of 94%.

5. [Soybeans] The USDA's monthly oilseed crush report shows that the US soybean crush in July was 6.14 million short tons (204.7 million bushels). Corn consumption for fuel ethanol production in July was 456 million bushels, down 6% from the same period last year. Distillers dried grains (DDGS) production in July was 1.86 million tons, down 7% from the same period last year.

6. [Palm Oil] Data from shipping research agency ITS shows that Malaysia exported 1,421,486 metric tons of palm oil from August 1 to 31, a 10.2% increase from 1,289,727 tons exported in the same period last month. 7. [Palm Oil] Data released by the Indonesian Statistics Bureau showed that from January to July 2025, Indonesia exported a total of 13.64 million tons of crude palm oil and refined palm oil, a year-on-year increase of 10.95%.

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