Macroeconomics

1. [Foreign Exchange Reserves] The State Administration of Foreign Exchange (SAFE) reported that as of the end of August, my country's foreign exchange reserves stood at $3.4383 trillion, an increase of $19.5 billion (or 0.57%) from the end of July.

2. [Shipping] Iranian Foreign Ministry Spokesperson Baghaei stated that Iran and Oman have made significant, substantive progress in negotiations to delineate a safe maritime corridor in the Strait of Hormuz. Despite attempts by certain third-party forces to obstruct or interfere—causing repeated setbacks—consultations between the two nations have now entered the final stage.

Agricultural Products

1. [Grains] European Commission trade data shows that as of August 30, grain imports by the EU-27 for the 2026/27 marketing year (starting July 1) totaled 4,044,917 tonnes, an 11% increase compared to the same period in 2025/26; grain exports totaled 6,330,624 tonnes, a 19% decrease year-on-year.

2. [White Sugar] News from September 8 indicates that Thailand—the world's second-largest sugar exporter—expects sugar production for the 2026/27 crushing season (beginning in October) to drop by at least 17%, potentially falling below 10 million tonnes, down from 12 million tonnes in the previous season. The decline is primarily driven by drought conditions caused by El Niño, compounded by the likelihood of farmers switching to cassava cultivation; NOAA forecasts a high probability that this event will develop into a "super" El Niño. Monsoon rainfall in India has also been below historical averages, and the International Sugar Organization (ISO) projects a global supply deficit of 260,000 tonnes for the new season.

3. [Soybeans] European Commission data indicates that, at the start of the 2026/27 marketing year, overall EU imports of oilseeds and vegetable oils have been lower than last year. As of August 30, soybean imports by the EU-27 for the 2026/27 marketing year (starting July 1) stood at approximately 1.867 million tonnes, a 25% year-on-year decrease.

4. [Corn] According to CONAB (Brazil's National Supply Company, under the Ministry of Agriculture), the planting rate for Brazil's first-crop corn reached 11% in the week ending September 4, compared to 6.3% the previous week, 9.6% during the same period last year, and a five-year average of 6.1%.

5. [Corn] BAGE reported that as of the week ending September 3, the harvest progress for Argentina's 2025/26 corn crop reached 92.5%; while this is an increase from 88% the previous week, it trails the figure from the same period last year by 6 percentage points. The remaining unharvested areas are primarily located in the southern agricultural regions. The national average yield for corn in Argentina stands at 7.78 tonnes per hectare.

6. [Corn] According to the Ukrainian Ministry of Agriculture, as of September 4, 2026, Ukraine's grain exports for the 2026/27 marketing year (which began in July) totaled 3.91 million tonnes, down 13.9% year-on-year. Of this total, wheat exports were 1.794 million tonnes (down 39.9% year-on-year), corn exports were 1.689 million tonnes (up 90.6% year-on-year), and barley exports were 369,000 tonnes (down 43.3% year-on-year). Grain exports for the month of September so far totaled 187,000 tonnes, a year-on-year decrease of 54.9%.

7. [Palm Oil] Data from the Southern Peninsular Palm Oil Millers' Association (SPPOMA) shows that for the period of September 1–5, 2026, Malaysia's palm oil yield increased by 32.92% compared to the same period the previous month, the oil extraction rate rose by 0.43%, and total production increased by 35.88%.

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