Macroeconomics

1. [Excavators] According to statistics from the China Construction Machinery Industry Association, major excavator manufacturers sold a total of 24,794 excavators in May 2026, a year-on-year increase of 36.2%. Domestic sales accounted for 11,628 units (up 38.6% year-on-year), while exports totaled 13,166 units (up 34.2% year-on-year).

2. [Automobiles] According to the China Passenger Car Association (CPCA), retail sales of passenger cars nationwide in May totaled 1.51 million units, down 22.1% year-on-year but up 9.2% month-on-month. Of this total, retail sales of new energy passenger vehicles reached 950,000 units—a year-on-year decline of 7.5% but a month-on-month increase of 12.4%—with a retail penetration rate of 62.9% within the overall domestic passenger vehicle market.

Agricultural Products

1. [White Sugar] As of May 31 during the 2025/26 crushing season, 44 sugar mills in Yunnan Province had concluded operations. The province processed a cumulative total of 22.2965 million tonnes of sugarcane, an increase of 4.2335 million tonnes (or 23.44%) year-on-year. Cumulative sugar production reached 2.9284 million tonnes, up 509,600 tonnes (or 21.07%) year-on-year, with an average sugar yield of 13.13%.

2. [Soybeans] National Grain and Oil Information Center: Monitoring data shows that for the week ending June 5, soybean crushing volume at major domestic oil plants totaled 2.37 million tonnes. This represents a week-on-week increase of 220,000 tonnes, a year-on-year increase of 130,000 tonnes, and an increase of 280,000 tonnes compared to the average for the same period over the past three years. Oil plant operating rates are expected to rise further this week, with soybean crushing volume potentially reaching around 2.50 million tonnes.

3. [Soybeans] European Commission data indicates that EU imports of oilseeds and vegetable oils for the 2025/26 marketing year are generally lower than last year, reflecting anticipated growth in domestic oilseed production and crushing volumes. As of May 31, soybean imports by the EU-27 for the 2025/26 season (which began on July 1) totaled approximately 12.38 million tonnes, down 7% year-on-year (compared to an 8% decline the previous week).

4. [Soybeans] A weekly survey by the National Association of Grain Exporters of Brazil (ANEC) estimates Brazil's soybean exports for June 2026 at 12.36 million tonnes, a 10.4% decrease from the 13.79 million tonnes exported in June of the previous year.

5. [Soybean Meal] The National Association of Grain Exporters of Brazil (ANEC) stated that Brazil's soybean meal exports for June 2026 are estimated at 1.65 million tonnes, slightly lower than the 1.67 million tonnes exported in June of the previous year.

6. [Rapeseed] The Canadian Grain Commission reported that rapeseed exports for the week ending May 31 totaled 252,300 tonnes, up from 139,000 tonnes the previous week. Exports for the current marketing year to date stand at 7.384 million tonnes, down 13.4% year-on-year. Domestic rapeseed consumption for the current marketing year to date is 10.328 million tonnes, up 7.5% year-on-year. Farmers have delivered 17.102 million tonnes, an increase of 2.1% year-on-year.

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