Macroeconomics

1. [Logistics Industry Prosperity Index] According to the China Federation of Logistics & Purchasing, the China Logistics Industry Prosperity Index in January was 51.2%, with the business volume index, new orders index, logistics service price index, fixed asset investment completion index, employment index, and business activity expectation index all above the 50% expansion threshold.

2. [Automobiles] According to preliminary statistics from the China Passenger Car Association, the estimated wholesale sales of new energy passenger vehicles in China in January were 900,000 units, a year-on-year increase of 1%. Of these, Tesla China's wholesale sales were 69,129 units, a year-on-year increase of 9.3%.

3. [US ADP Employment] US ADP employment increased by 22,000 in January, lower than the market expectation of 48,000.

4. [Eurozone CPI] The Eurozone's CPI only rose by 1.7% year-on-year in January, the lowest level since September 2024. Core CPI fell to 2.2%, the lowest since October 2021. Services inflation slowed to 3.2%. The market expects the European Central Bank to remain on hold this week.

Agricultural Products

1. [White Sugar] As of January 31, 2025/26 crushing season, Guangxi had processed a cumulative 33.4306 million tons of sugarcane, a decrease of 3.0971 million tons year-on-year; cumulative mixed sugar production was 4.029 million tons, a decrease of 788,000 tons year-on-year; the sugar yield was 12.05%, a decrease of 1.14% year-on-year.

2. [White Sugar] As of January 31, Yunnan Province had cumulatively sold 532,000 tons of new sugar, with a sales rate of 54.06%, basically the same as the same period of the previous crushing season (54.03%). Industrial inventory was 452,100 tons, and 250,600 tons of sugar were sold in January, higher than the 185,100 tons in the same period of the previous crushing season.

3. [Soybean Meal] According to monitoring by the National Grain and Oil Information Center, in the week of January 30th, the national inventory of soybean meal in major oil mills was 890,000 tons, an increase of 20,000 tons week-on-week, a decrease of 240,000 tons month-on-month, an increase of 400,000 tons year-on-year, and an increase of 310,000 tons compared to the average of the same period in the past three years.

4. [Soybeans] According to the crop progress report released by the Brazilian National Supply Company (CONAB) on Monday, as of January 31, 2026, the harvest progress of Brazilian soybeans in the 2025/26 season was 11.4%, higher than 6.6% a week earlier, 8.0% in the same period last year, and the five-year average of 11.8%.

5. [Palm Oil] According to data released by the shipping survey agency SGS, it is estimated that Malaysia's palm oil exports from January 1-31 were 944,885 tons, a decrease of 5.58% compared to the 1,000,703 tons exported in the same period last month.

6. [Palm Oil] According to data released by Indonesia's Central Statistics Agency, Indonesian palm oil exports continued their strong growth trend in 2025, with total export value reaching US$24.42 billion, a year-on-year increase of 21.83%; and export volume reaching 23.61 million tons, a year-on-year increase of 9.09%.

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