Macroeconomics

1. [MLF] The People's Bank of China announced that, to maintain ample liquidity in the banking system, it will conduct a 600 billion RMB medium-term lending facility (MLF) operation on September 25th, using a fixed-volume, interest-rate tendering method with multiple price levels. The term is one year.

2. [US-EU Tariffs] The United States confirmed that EU cars and auto parts will face 15% tariffs, retroactive to August 1st.

3. [Bank of England] Bank of England Governor Bailey stated that interest rates still have room to fall, but the timing and extent of the reduction will depend on the trajectory of inflation. The labor market, in particular, is showing signs of weakness, which is also reflected slightly in employment data.

4. [German Business Climate Index] Germany's Ifo business climate index fell 1.2 points to 87.7 in September, the lowest level since May and the largest monthly drop in the past year.

5. [Australian CPI] Australia's CPI rose 3% year-on-year in August, the highest level since July 2024, reaching the upper limit of the Reserve Bank of Australia's (RBA) 2%-3% inflation target range. However, the trimmed mean of core inflation, the RBA's preferred indicator, fell to 2.6% from 2.7% in July.

Agricultural and Sideline Products

1. [Soybean Meal] The latest data from the European Commission shows that as of September 21, the EU's soybean meal imports for the 2025/26 marketing year were 4 million tons, a year-on-year decrease of 3.6%.

2. [Soybean] Data released by SECEX shows that Brazil's soybean exports have accelerated so far in September, exceeding the same period last year. From September 1 to 19, Brazil exported 4.719 million tons of soybeans, compared to 6.106 million tons for the entire month of September last year.

3. [Soybean] The Brazilian National Association of Cereal Exporters (ANEC) said that Brazil's soybean exports for September 2025 are estimated at 7.15 million tons, down from the 7.526 million tons estimated a week ago.

4. [Corn] Statistics released by SECEX show that Brazil's corn exports have accelerated so far in September and are now ahead of the same period last year. From September 1 to 19, Brazil exported 4.73 million tons of corn, compared to 6.42 million tons for the entire month of September last year.

5. [Sugar] Sugar production in Brazil's center-south region is projected to reach 42.1 million tons in 2026/27, a 5.7% increase from the previous year. Sugarcane crushing in the center-south region is projected to reach 620.5 million tons in 2026/27, a 3.6% increase.

6. [Rapeseed] Kazakhstan's Minister of Agriculture, Aidarbek Saparov, stated that Kazakhstan's oilseed production is expected to reach a record 4 million tons this year, a 20.1% increase from the previous year.

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