Macroeconomics

1. [US ADP Employment Change] US ADP employment fell by 32,000 in November, the lowest level since March 2023, compared to a forecast of an increase of 5,000 and a previous increase of 42,000.

2. [Eurozone PMI] The final Eurozone Composite PMI for November was revised upward to 52.8, a 30-month high. The Services PMI rose to 53.6, the highest level since May 2023, with new business growth at its fastest pace in 18 months.

Agricultural and Sideline Products

1. [Live Pigs] The Ministry of Finance has revised the "Management Measures for Reward Funds for Major Live Pig (Cattle and Sheep) Exporting Counties." The measures stipulate that provinces should optimize their live pig production capacity control mechanisms and stabilize basic beef and mutton production capacity. Major exporting counties should strengthen resource coordination to promote the production, circulation, and industrial development of live pigs (cattle and sheep). Reward funds for major live pig (cattle and sheep) exporting counties will be allocated to counties according to a factor-based method.

2. [Sugar] As of November 30, 2025, Yunnan Province had cumulatively processed 439,400 tons of sugarcane (349,700 tons in the previous season), producing a total of 44,800 tons of sugar, with a sugar yield of 10.22% (11.05% in the same period of the previous season).

As of November 30, 2025, 35 sugar mills in Guangxi had started crushing sugarcane, a decrease of 26 compared to the same period last year; the cumulative sugarcane crushing volume was 1.4411 million tons, and the cumulative sugar production was 133,900 tons, a decrease of 378,500 tons compared to the same period last year; the cumulative sugar yield was 9.29%, a decrease of 1.63% compared to the same period last year.

3. [Soybean Meal] A survey shows that analysts expect net export sales of US soybean meal for the 2025/26 marketing year to be between 200,000 and 450,000 tons in the week ending October 30. In comparison, net sales of soybean meal for the 2025/26 marketing year were 640,021 tons in the week ending October 23.

4. [Palm Oil] A Reuters survey shows that Malaysian crude palm oil production in November is estimated at 1.98 million tons, a decrease of 3% from October; exports are expected to be 1.44 million tons, a decrease of 14.9% from October; and ending stocks in November are expected to be 2.66 million tons, an increase of 7.78% from October.

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