Macroeconomics

1. [Foreign Exchange Reserves] Central Bank: As of the end of December 2025, my country's foreign exchange reserves amounted to US$3,357.9 billion, an increase of US$11.5 billion month-on-month, reaching a new high since December 2015.

2. [Automobiles] According to the China Passenger Car Association, in December 2025, retail sales of passenger cars in my country reached 2.296 million units, a year-on-year decrease of 13% and a month-on-month increase of 3%. Of these, new energy vehicles accounted for 1.387 million units, a year-on-year increase of 7% and a month-on-month increase of 5%, with a new energy vehicle retail penetration rate of 60.4%.

3. [US ADP Employment] US ADP employment increased by 41,000 in December, compared to an estimated increase of 50,000 and a previous decrease of 32,000.

4. [Eurozone CPI] The Eurozone CPI rose by 0.2% month-on-month in December, in line with expectations; the Eurozone CPI rose by 2.0% year-on-year in December, also in line with expectations. The Eurozone core CPI rose by 2.3% year-on-year in December, compared to an expected 2.4%.

Agricultural Products

1. [White Sugar] As of December 31, 2025, 36 sugar mills in Yunnan Province had commenced crushing operations, the same as the same period of the previous crushing season.  A total of 3.461 million tons of sugarcane had been processed, producing 392,300 tons of sugar, with a sugar yield of 11.34%, slightly lower than the 11.62% yield in the same period of the previous crushing season.  Cumulative sales of new sugar reached 281,400 tons, with a sales rate of 71.72%, lower than the 81.70% sales rate in the same period of the previous year.

2. [White Sugar] As of December 31, all 73 sugar mills in Guangxi had commenced crushing operations for the 2025/26 crushing season, a decrease of one compared to the previous year.  A total of 16.2303 million tons of sugarcane had been processed, producing 1.9419 million tons of mixed sugar, a decrease of 809,500 tons year-on-year; the mixed sugar yield was 11.96%, a decrease of 0.85% year-on-year.

3. [Soybean Oil] According to dealer estimates, soybean oil imports in December were estimated at 508,000 tons, a sharp increase of 37% month-on-month; sunflower oil imports were estimated at 350,000 tons, more than double the previous month, reaching the highest level in 17 months.

4. [Soybeans] StoneX stated that the forecast for Brazilian soybean production in the 2025/26 season is 177.6 million tons, an increase of 0.2% from the December forecast of 177.2 million tons, and a 5.2% increase compared to the previous year's production.

5. [Soybeans] The Brazilian National Supply Company (CONAB) released a crop progress report on Monday, stating that as of January 3, 2026, 98.2% of the 2025/26 Brazilian soybean crop had been planted, higher than 97.9% a week earlier and higher than the five-year average of 97.6%, but lower than the 98.5% planted in the same period last year.

6. [Corn] CONAB stated that as of January 3, 88.3% of the first-season corn planting for the 2025/26 Brazilian crop had been completed, compared to 85.6% the previous week, 83.7% in the same period last year, and a five-year average of 83.1%.

7. [Corn] StoneX reports that Brazil's first-crop corn production for the 2025/26 season is projected at 26 million tons, a 0.5% decrease from the December forecast, mainly reflecting a downward revision in production in Santa Catarina state. Second-crop corn production in Brazil for 2025/26 is expected to be 105.8 million tons, unchanged from the previous forecast but down 5.2% year-on-year. Including third-crop production, total Brazilian corn production for 2025/26 is expected to reach 134.3 million tons, largely unchanged from previous estimates.

8. [Palm Oil] Indian traders estimate that India's palm oil imports in December fell to an eight-month low due to weak winter demand and refiners increasing purchases of competing vegetable oils such as soybean and sunflower oil. Palm oil imports in December fell to 507,000 tons, a 20% decrease month-on-month and the lowest level since April 2025.

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