Macroeconomics

1. [Reverse Repo] The central bank will conduct a 500-billion-yuan outright reverse repo operation with a three-month term on June 5. With 800 billion RMB in three-month outright reverse repos maturing in June, the operation on June 5 will result in a net withdrawal of 300 billion RMB from the market; this marks the fourth consecutive month the central bank has rolled over three-month outright reverse repos with a reduced volume.

2. [US Initial Jobless Claims] US initial jobless claims rose by 13,000 last week to 225,000, exceeding economists' expectations and reaching the highest level since February of this year.

Agricultural Products

1. [Rapeseed Meal] As of May 29, rapeseed inventories at major oil mills in coastal regions totaled 312,000 tonnes, an increase of 41,000 tonnes from the previous week.

2. [White Sugar] According to a report by the French sugar beet growers and sugar manufacturers' association, France's sugar production for the 2025/26 crushing season reached 4.64 million tonnes; the cumulative volume of sugar beets processed was 36.30 million tonnes, with a planting area of ​​397,400 hectares.

3. [Corn] Monitoring data from the Russian Grain Union (RGU) indicates that Russia's major grain exports in May totaled 3.70 million tonnes, a year-on-year increase of 76.2%. Wheat exports reached 3.40 million tonnes, up 61.9% from 2.10 million tonnes in the same period last year. Exports in May also included 228,600 tonnes of corn and 105,700 tonnes of barley, whereas exports for these commodities were zero during the same period last year.

4. [Soybeans] Data from SECEX shows that the pace of Brazilian soybean exports in May outpaced that of the same period last year. From May 1 to May 31, Brazil exported 14.83 million tonnes of soybeans, compared to 14.10 million tonnes for the full month of May 2025.

5. [Palm Oil] Data from the Southern Peninsular Palm Oil Millers' Association (SPPOMMA) indicates that palm oil production in southern Malaysia fell by 10.07% month-on-month from May 1 to May 31, 2026. Specifically, fresh fruit bunch (FFB) yield per hectare dropped by 7.07%, and the oil extraction rate (OER) declined by 0.57%.

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