Macroeconomics

1. [Foreign Exchange Reserves] According to statistics from the State Administration of Foreign Exchange, as of the end of January 2026, my country's foreign exchange reserves amounted to US$3,399.1 billion, an increase of US$41.2 billion compared to the end of December 2025, representing a growth of 1.23%.

2. [Excavators] According to statistics from the China Construction Machinery Association on major excavator manufacturers, 18,708 excavators of various types were sold in January 2026, a year-on-year increase of 49.5%. Of these, domestic sales totaled 8,723 units (including 24 electric excavators), a year-on-year increase of 61.4%; exports totaled 9,985 units (including 11 electric excavators), a year-on-year increase of 40.5%.

3. [University of Michigan Consumer Sentiment Index] The preliminary reading of the University of Michigan Consumer Sentiment Index for February in the United States was 57.3, the highest level in six months. At the same time, the 1-year inflation expectation fell to 3.5%, the lowest level in a year.

Agricultural Products

1. [Soybean Oil] The weekly export sales report released by the U.S. Department of Agriculture shows that for the week ending January 29, 2026, U.S. net sales of soybean oil for the 2025/26 marketing year were 1,000 tons, a decrease of 96% from the previous week and a decrease of 95% from the four-week average.

2. [Soybean Meal] The weekly export sales report released by the U.S. Department of Agriculture shows that for the week ending January 29, 2026, U.S. net sales of soybean meal for the 2025/26 marketing year were 380,300 tons, a decrease of 18% from the previous week but an increase of 11% from the four-week average. This figure is within the median range of trade expectations.

3. [Soybean Meal] EU data shows that year-to-date EU soybean meal imports for the 2025/26 marketing year have decreased by 9% year-on-year, with shares from Brazil and Ukraine increasing, while Argentina's share decreased.

4. [Rapeseed] EU data shows that EU rapeseed imports in the 2025/26 season to date have decreased by 39% year-on-year.  Imports from both Australia and Ukraine have decreased, while imports from Canada have increased. As of February 1, 2026, Ukraine was the EU's top supplier of rapeseed, with 1.168 million tons, a decrease of 46.8% year-on-year, and its market share decreased from 56.2% to 49.1%.

5. [Palm Oil] EU data shows that EU palm oil imports in the 2025/26 season decreased by 3% year-on-year, reflecting the long-term constraints on palm oil demand imposed by the EU's renewable energy directive. Indonesia's export volume and market share both decreased, while Malaysia's export volume and market share increased.

6. [White Sugar] Brazil exported approximately 201.75 tons of sugar in January, a decrease of 2.09% year-on-year.  For the 2025/26 crushing season (April to March of the following year), Brazil's cumulative sugar exports as of January 2026 reached 30.23 million tons, a decrease of 7.15% year-on-year.

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