Macroeconomics

1. [Electricity] Data from the National Energy Administration shows that as of the end of July, China's cumulative installed power generation capacity stood at 4.08 billion kilowatts, up 11.0% year-on-year. Of this total, installed solar power capacity reached 1.29 billion kilowatts (up 16.1%), and installed wind power capacity reached 690 million kilowatts (up 19.5%). From January to July, the average utilization time of power generation equipment nationwide was 1,671 hours, a decrease of 135 hours compared to the same period last year.

2. [Canadian Tariffs] The Canadian government announced retaliatory tariffs on U.S. goods valued at approximately $20 billion. Starting September 8, Canada will impose counter-tariffs—at rates of 15%, 25%, or 50%—on around 700 U.S. products. The government also stated it would launch a C$7.5 billion aid package to support businesses and workers affected by the new U.S. tariffs.

Agricultural Products

1. [Soybeans] National Food and Strategic Reserves Administration: Monitoring data shows that on August 21, imported soybean inventories at major domestic oil mills stood at 8.47 million tonnes. This represents a week-on-week increase of 0.54 million tonnes, a month-on-month increase of 1.12 million tonnes, and a year-on-year increase of 0.92 million tonnes; it is also 1.47 million tonnes higher than the average for the past three years. Soybean meal inventories stood at 1.07 million tonnes, a week-on-week decrease of 0.04 million tonnes, a month-on-month increase of 0.14 million tonnes, and a year-on-year increase of 0.03 million tonnes; this is 0.01 million tonnes lower than the average for the same period over the past three years.

2. [Grains] For the week ending August 20, 2026, ocean freight rates for grain shipments from the US and South America to China mostly rose. Data released by the U.S. Grains Council shows that the freight rate for a 66,000-tonne vessel from the US Gulf to Chinese ports (North or South China, same below) was $71.50/tonne, up $0.25 from the previous week. The rate for a 66,000-tonne vessel from the US West Coast to China was $34.75/tonne, up $0.25. The rate for a 54,000–59,000-tonne vessel from the Port of Santos, Brazil, to China was $54.25/tonne, up $0.25; the rate from Brazil's northern coast to China was $58.00/tonne, up $0.25. The freight rate for deep-water cargo ships (56,000–60,000 tonnes) transporting goods from the Port of Rosario, Argentina, to China stands at $55.00 per tonne, an increase of $0.25.

3. [Corn] The USDA's weekly export inspection report shows that US corn export inspections last week fell by 33% compared to the previous week and by 3% compared to the same period last year. For the week ending August 20, 2026, US corn export inspections totaled 1,296,271 tonnes, down from a revised 1,944,870 tonnes the previous week and 1,338,532 tonnes during the same period last year.

4. [Rapeseed] Consultancy APK-Inform released a report on Monday raising its forecasts for Ukraine's rapeseed production and exports for the 2026/27 marketing year. Analysts at the firm project Ukraine's rapeseed production for 2026/27 at 3.85 million tonnes, a 7.5% increase from earlier forecasts; the export forecast for the same period was also raised by 7.3% to 2.26 million tonnes.

5. [Palm Oil] Data from shipping surveyor ITS shows that Malaysia's palm oil exports from August 1 to 25 totaled 1,045,204 tonnes, a 20% decrease from the 1,307,012 tonnes exported during the same period last month.

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