Group 1 - Chicago futures market saw an overall increase in corn, wheat, and soybean prices on July 24, with corn rising to $4.21 per bushel, an increase of 3.25 cents (0.78%) from the previous trading day [1] - Wheat September contract closed at $5.42 per bushel, up 1 cent (0.19%), while soybean November contract reached $10.24 per bushel, increasing by 1.5 cents (0.15%) [1] - Traders are hesitant to increase risk ahead of the August weather conditions in the Midwest and the upcoming tariffs set to take effect on August 1, with expectations of trade agreements that may not lead to significant new export demand for U.S. agricultural products [1] Group 2 - The USDA reported export sales for the week ending July 17, showing wheat export sales at 26.2 million bushels, old corn at 25.3 million bushels, new corn at 28.9 million bushels, old soybeans at 5.9 million bushels, and new soybeans at 8.8 million bushels [2] - Cumulative export sales for the current crop year include 329 million bushels of wheat (up 35 million bushels year-on-year), 2.76 billion bushels of corn (up 594 million bushels), and 1.867 billion bushels of soybeans (up 208 million bushels) [2] - Weather forecasts indicate that ridge storms will bring daily showers to the Midwest, with warm temperatures expected to last for 4-5 days, followed by a return to average temperatures [2]

Core Viewpoint - The European Union has approved a measure to impose retaliatory tariffs on U.S. products totaling €93 billion, causing a significant drop in European stock markets [3][4][9]. Group 1: Economic Data and Market Reaction - European stock markets initially opened higher due to resilient economic data but fell sharply after the approval of the retaliatory tariffs [5]. - The Eurozone's composite Purchasing Managers' Index (PMI) rose from 50.6 in June to 51 in July, surpassing analysts' expectations of 50.7, indicating a stabilization above the growth threshold [7]. - The increase in PMI is attributed to the nearing end of a three-year manufacturing recession and an unexpected acceleration in the service sector [7]. Group 2: Retaliatory Tariffs Details - The EU plans to merge two lists of retaliatory tariffs against U.S. exports, totaling approximately €930 billion, which includes high-value industrial products such as aircraft, automobiles, wine, and electrical equipment [9]. - The first round of tariffs, approved in April, targeted U.S. goods worth about €210 billion, including soybeans, motorcycles, and jeans [9]. - If a satisfactory trade agreement is not reached by August 1, the retaliatory measures will take effect on August 7 [10].

Core Insights - The Reserve Bank of Australia (RBA) meeting minutes indicate that U.S. tariff measures will negatively impact global economic growth, which in turn will affect the Australian economy [1] - Currently, Australia's Gross Domestic Product (GDP) is in a state of stagnation [1] Economic Impact - U.S. tariffs are expected to create a drag on global economic growth [1] - The Australian economy is already experiencing low GDP levels, suggesting vulnerability to external economic pressures [1]

Core Insights - The article highlights that tariff measures are expected to lead to an increase in construction material prices [1] Industry Impact - The anticipated rise in construction material prices could affect overall construction costs and project budgets [1] - Increased costs may lead to a slowdown in construction activities as companies reassess their financial plans [1]

Group 1 - The Federal Reserve's Goolsbee indicated that a new round of tariffs will apply to components and copper, suggesting a shift in trade policy [1] - The review of tariff measures on Europe and Canada is underway, highlighting a potential reassessment of existing trade relationships [1] - The current tariffs have not proven to be beneficial, indicating a need for reevaluation of their effectiveness [1]

Core Viewpoint - The continuous imposition of tariffs may trigger a chain reaction in the economy [1] Group 1 - Federal Reserve Governor Waller expressed concerns that ongoing tariff measures could lead to unintended economic consequences [1] - The potential chain reaction from tariffs could affect various sectors and lead to broader economic implications [1]

德国央行行长、欧洲央行管理委员会成员约阿希姆·纳格尔7月17日表示，美国关税升级可能导致德国经 济失去增长前景。纳格尔表示，美国的关税措施可能"吞没"德国央行此前作出的2026年德国经济增长 0.7%预测。如果美国关税在8月1日生效，那么今明年的经济前景可能会更糟，不仅2025年经济衰退难 以排除，2026年德国经济增长也面临不确定性。（CCTV国际时讯） ...

美联储戴利：目前尚未看到任何证据表明关税措施正在更广泛地引发持续性通胀。 ...

Core Viewpoint - The CEO of Novartis (NVS.N) stated that any new tariff measures will not impact the earnings guidance for 2025 [1] Group 1 - The company maintains a positive outlook for its performance in 2025 despite potential external economic pressures [1]

美国总统特朗普：（关于巴西）我们正在推进相关关税措施。 ...