SunSirs: Agricultural and Sideline Products Industries Bulk Commodity Intelligence (September 1, 2025)

Macroeconomics

1. [PMI] National Bureau of Statistics: In August, the Manufacturing Purchasing Managers' Index (PMI) was 49.4%, up 0.1 percentage point from the previous month, indicating some improvement in the manufacturing sector's business sentiment.

2. [BCI] In August 2025, the Sino-US Commodity Supply and Demand Index (BCI) was 0.00, with an average increase of -0.22%.

3. [US PCE Price Index] The US core PCE price index rose 2.9% year-on-year in July, the highest since February 2025, in line with expectations of a 2.9% increase and the previous reading of 2.8%. It also rose 0.3% month-on-month, in line with expectations and the previous reading.

4. [US Consumer Confidence Index] Due to continued concerns about tariffs, the US consumer confidence index fell to a three-month low. A survey released by the University of Michigan showed that the final reading of the University of Michigan Consumer Confidence Index in August fell from 61.7 in July to 58.2, lower than the initial reading of 58.6.

Agricultural and Sideline Products

1. [Corn] According to the USDA, net U.S. corn export sales for the 2024/2025 marketing year were -18,000 tons in the week ending August 21, compared to -27,000 tons the previous week. Net corn sales for the 2025/2026 marketing year were 2.09 million tons, compared to 2.86 million tons the previous week.

2. [Soybeans] According to the USDA, net U.S. soybean export sales for the 2024/2025 marketing year were -189,000 tons in the week ending August 21, compared to -6,000 tons the previous week. Net soybean sales for the 2025/2026 marketing year were 1.373 million tons, compared to 1.143 million tons the previous week.

3. [Palm Oil] As of August 24, 2025, the EU imported 121,000 tons of palm oil from Malaysia in the 2024/25 marketing year (July to June), a year-on-year decrease of 17.2%. However, the EU's market share increased from 27.2% to 34.2%.

4. [Rapeseed] Statistics Canada released a model-based production forecast for Canada's 2025 canola production, projecting it at 19.9 million tons by the end of July 2025, with an average of 20.3 million tons. Statistics Canada reported 19.5 million tons in August of last year.

5. [Sugar] Brazil exported 3.6 million tons of sugar in July, a 4.6% year-on-year decrease. For the first four months of the 2025/26 marketing year (CAY), which began in April, exports totaled 10.76 million tons, a 7.6% year-on-year decrease. Brazil exported 2.81 million tons of sugar in the first four weeks of August, an average of 176,000 tons per day. Last August, exports totaled 3.92 million tons.

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