Macroeconomics

1. [China Manufacturing PMI] China's RatingDog Manufacturing PMI rose to a two-month high of 51.5 in August; the growth rate of new export orders hit a six-month high, while factory-gate prices declined for the first time this year.

2. [Federal Reserve] Federal Reserve Governor Michael Barr stated on September 1 that decisive action to raise interest rates is warranted if inflation does not sufficiently ease, noting that current US inflation levels remain too high. He indicated his readiness to support a rate hike if inflation fails to subside. The Fed is scheduled to hold its next policy meeting in mid-September.

3. [Eurozone Inflation] The Eurozone's latest inflation figures rose to their highest level in nearly three years, reinforcing the case for an interest rate hike by the European Central Bank next week. Preliminary data released by Eurostat on September 1 showed that, driven by persistently high energy prices, the Eurozone's Harmonised Index of Consumer Prices (HICP) rose 3.3% year-on-year in August (matching expectations). This was up from 2.9% in July and marked the highest level since September 2023.

4. [Bank of Japan] Bank of Japan Governor Kazuo Ueda stated that the market has already priced in a strong possibility of a rate hike in September, adding that he would not comment on daily market fluctuations.

Agricultural Products

1. [White Sugar] In the 2025/2026 crushing season, Yunnan Province's sugar production reached 2.938 million tonnes, with an average sugar recovery rate of 13.14%. This marks the fourth consecutive season that the province's average recovery rate has remained above 13%, ranking first nationwide.

2. [Grains] For the week ending August 27, 2026, ocean freight rates for grain shipments from the US and South America to China increased. Data from the US Grains Council shows that the freight rate for a 66,000-tonne vessel from the US Gulf to Chinese ports (North or South China) was $73.00 per tonne, up $1.50 from the previous week. The rate for a 66,000-tonne vessel from the US West Coast to China was $35.00 per tonne, up $0.25.

3. [Grains] For the week ending August 27, 2026, ocean freight rates for grain shipments from South America to China rose. The freight rate for 54,000–59,000-tonne vessels from Brazil's Port of Santos to China was $55.75 per tonne (up $1.50), while the rate from Brazil's northern coast to China was $59.50 per tonne (up $1.50). The rate for 56,000–60,000-tonne deep-water vessels from Argentina's Port of Rosario to China was $56.50 per tonne (up $1.50).

4. [Soybeans] USDA export inspection reports indicate that the volume of US soybean export inspections fell by 42% from the previous week and by 49% year-on-year. For the week ending August 27, 2026, US soybean export inspections totaled 250,801 tonnes, compared to a revised 430,079 tonnes the previous week and 491,966 tonnes during the same period last year.

5. [Corn] USDA weekly export inspection reports show that US corn export inspections rose by 13% from the previous week and by 6% year-on-year. For the week ending August 27, 2026, U.S. corn export inspections totaled 1,496,034 tonnes, compared to a revised 1,322,594 tonnes the previous week and 1,409,720 tonnes during the same period last year.

6. [Corn] The Russian Ministry of Agriculture announced a 33% reduction in the export duty on Russian corn. For the period of September 2–8, 2026, the indicative price for Russian corn is set at $220.6 per tonne, with an export duty of 406.5 rubles per tonne; this compares to an indicative price of $221.2 and an export duty of 607.3 rubles per tonne the previous week.

7. [Palm Oil] According to the independent Malaysian inspection agency AmSpec, Malaysia's palm oil exports for the period of August 1–31 totaled 1,335,281 tonnes, a decrease of 6.51% from the 1,428,275 tonnes exported during the same period the previous month.

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