Core Viewpoint - Multiple U.S. food industry groups are seeking exemptions from high tariffs imposed by President Trump, citing the vulnerability of the food sector to these tariffs due to reliance on imports for various agricultural products [1][2] Group 1: Tariff Impact on Food Industry - The U.S. food industry is particularly affected by Trump's tariffs, as many agricultural products are difficult to grow domestically at affordable costs [1] - Approximately 20% of food consumed in the U.S. is imported, with 85% of seafood consumption relying on imports [1] - The U.S. seafood trade deficit reached $24 billion in 2022, highlighting the significant reliance on foreign sources [1] Group 2: Specific Product Concerns - Shrimp imports account for about 90% of the U.S. supply, with India providing over one-third of this supply [2] - The annual import value of fresh fruits and vegetables in the U.S. is $36 billion, with Mexico being the largest supplier [2] Group 3: Exemption Process and Challenges - The process for obtaining tariff exemptions in the food sector may be complex due to the lack of a defined application procedure [3] - Some food products may be exempt from tariffs based on existing trade agreements, such as those with Indonesia and the EU [3] - The U.S. has proposed exemptions for certain natural resources not produced domestically, including coffee and tropical fruits [3] Group 4: Price Implications - Without additional tariff exemptions, food prices in the U.S. could rise significantly, particularly for seasonal fresh ingredients [4] - The National Restaurant Association has warned that tariffs on seasonal produce could lead to substantial menu price increases [4] Group 5: Domestic Production Challenges - The import share of cucumbers in the U.S. has increased from 35% in 1990 to nearly 90%, indicating a shift towards reliance on imports [5] - Growing 90% of cucumbers domestically would require extensive greenhouse cultivation, significantly raising costs [5] - The food industry is advocating for targeted approaches to tariffs to support domestic production and job retention [5]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Corn is expected to maintain a weak and volatile pattern in the short - term and face downward pressure in the long - term due to new - season supply and cost changes [4]. - Starch is likely to remain bearish in both the short and long term because of high inventory and expected lower raw material costs [4]. - The price of sugar is under pressure in the international market, and the domestic market follows the trend with limited upward movement [7][20]. - Cotton is in a range - bound state, and its downward space is limited. Attention should be paid to demand changes [10]. - Egg prices may trigger more old - hen culling if the rebound in late August fails to meet expectations [14]. - Apple production in the new season may not differ much from last year, and attention should be paid to the final production determination [18]. - The pig market has short - term positive factors, but medium - term supply pressure still exists, and attention should be paid to various influencing factors [18]. 3. Summary by Commodity Corn/Starch - **Price Data**: From August 18 - 22, 2025, the port spot price of corn weakened, with a maximum decline of 20 yuan/ton in some regions. The processing profit of starch increased by 20 yuan/ton [3]. - **Market Analysis**: In the short term, new - season corn is about to be listed, and the market is in a wait - and - see state. The supply increase is limited, and the price is expected to be weakly volatile. In the long term, the price is likely to decline under the influence of increased production and lower costs. Starch prices are affected by raw materials, with high inventory and low downstream demand, remaining bearish [4]. Sugar - **Price Data**: From August 18 - 22, 2025, the spot prices in some regions remained stable, the basis changed, and the import profit decreased. The number of warehouse receipts decreased by 196 [7]. - **Market Analysis**: Brazil is in the peak crushing season, putting pressure on international sugar prices. The domestic market follows the trend, with imported sugar arriving and processing sugar prices dropping, limiting the upward movement of the futures price [7][20]. Cotton - **Price Data**: From August 18 - 22, 2025, the price of 3128 cotton increased by 155 yuan/ton, the import profit changed, and the number of warehouse receipts and forecasts decreased by 262 [10]. - **Market Analysis**: Cotton is in a range - bound state. If there are no major macro - risks, the price is expected to have limited downward space, and attention should be paid to demand changes [10]. Eggs - **Price Data**: From August 18 - 22, 2025, egg prices in major producing areas decreased, and the basis decreased by 70 [14]. - **Market Analysis**: High temperatures in mid - July and post - plum - rain replenishment drove up egg prices, but weakening and delayed Mid - Autumn Festival stocking demand led to a decline in prices in early August. If the price rebound in late August fails to meet expectations, more old - hen culling may be triggered [14]. Apples - **Price Data**: From August 18 - 22, 2025, the spot price of Shandong 80 first - and second - grade apples remained stable, the national inventory decreased by 14, and the basis changed [17][18]. - **Market Analysis**: Apple production in the new season may not differ much from last year. The current consumption is in the off - season, and the inventory is at a five - year low. Attention should be paid to the final production determination [18]. Pigs - **Price Data**: From August 18 - 22, 2025, pig prices in some regions changed slightly, and the basis decreased by 75 [18]. - **Market Analysis**: There are long - term policy expectations, but medium - term supply pressure remains. There are short - term positive factors such as supply reduction and consumption improvement, and attention should be paid to various influencing factors [18].

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - AgResource forecasts Brazil's 2025/26 soybean production to reach 176.5 million tons, a 3% increase from the previous year, with a 2% growth in planting area to 48.7 million hectares [1]. - MPOA data shows that Malaysia's crude palm oil production from August 1 - 20 increased by 3.03% compared to the same period last month, with varying growth rates in different regions [1]. - The US EPA approved 63, rejected 28, and partially approved 77 applications from small refineries for biofuel exemptions, with a total exemption quota of about 5.34 billion RINS, and only 13 pending applications remain [1]. 3) Summary by Related Catalogs Overnight Market Information - Brazil's 2025/26 soybean production is expected to increase, and planting usually starts around September [1]. - Malaysia's palm oil production in early - August increased compared to the previous month [1]. - The US EPA dealt with small refinery biofuel exemption applications, and will soon collect public opinions on large refineries' compensation for exemption quotas [1]. Spot Prices - Spot prices of various products such as soybean meal, rapeseed meal, soybean oil, palm oil, and rapeseed oil from August 18 - 22 are presented, showing price fluctuations during this period [1].

当前，巴西和美国的关税谈判陷入僵局。早在4月2日，新任美国政府抛出的首轮加税清单中，巴西尚以 10%的被加税幅度属于"最低基本关税"序列，巴西市场情绪相对乐观。然而，到7月30日，美国总统特 朗普再签行政令，宣布自8月6日起对巴西输美产品再加征40%关税，该措施生效后，大部分巴西输美产 品面临的关税税率已提高到50%，巴西已成为受美关税惩罚最严重国家之一，其市场恐慌情绪见涨，两 国贸易争端升级。 同时，开拓部分替代美国的海外出口市场将成为巴西未来几年贸易政策的重中之重。考虑到大宗商品是 巴西对美出口的重点，以下三大市场可能成为巴西贸易促进的优先方向：首先是欧盟市场，尽快达成并 落实南方共同市场与欧盟之间的自由贸易协定；其次是亚太市场，积极提升与多个亚太市场的贸易便利 化水平；再次是金砖国家，挖掘与相关国家的贸易潜力，提高出口产品多样化，并扩大本币贸易结算规 模。总体来看，对巴西而言，亚太市场和金砖国家的替代效应会更为显著。 （文章来源：经济日报） 在此局面下，巴西政府的应对政策整体上是坚定捍卫国家主权，反对美国的关税霸凌行为。巴西最新民 调显示，大多数民众认为美国的行径干涉了巴西内政，侵犯了巴西国家主权，总统 ...

Core Viewpoint - The "Guizhou Agricultural Brand Promotion and Investment Negotiation Conference" will be held on August 28 in Shanghai, aiming to promote Guizhou's agricultural products and attract investment [1][2][3]. Group 1: Event Details - The event is co-hosted by the Guizhou Provincial Department of Agriculture and Rural Affairs, Guizhou Agricultural Development Group, and the China Financial Information Center [2][3]. - It will feature participation from experts, scholars, representatives from the catering industry, channel merchants, e-commerce retailers, supermarkets, investment capital representatives, group purchasing channels, and potential cooperative enterprises [4][5]. Group 2: Product Focus - Featured products include Guizhou Yellow Cattle and Dafa Tianma, with a focus on enhancing product quality and brand recognition [7][10]. - Guizhou is concentrating on three key industries: beef cattle, tea, and chili, along with five advantageous industries including traditional Chinese medicine, edible fungi, prickly pear, oil tea, and bamboo [8][9]. Group 3: Strategic Goals - The initiative aims to strengthen regional public brands such as "Guangling Yellow Cattle," "Dafa Tianma," and "Sansui Duck," and to create a number of nationally recognized "Gu" branded agricultural products [10]. - The event will also release the "Shanghai Guizhou Cuisine Map," facilitating discussions on the future development direction of Guizhou's branded agricultural products [16][17]. Group 4: Venue Significance - The China Financial Information Center is a significant venue, hosting numerous heavyweight institutions, which adds credibility and visibility to the event [11][12]. - The center will showcase changes in Guizhou over the past five years in areas such as rural revitalization and advantageous industries [13][14][15].

Core Insights - The training session aimed to enhance the understanding and application of new media and e-commerce among rural party members and cadres, aligning with the rural revitalization strategy [3] - Zhang Baotang, the director of the Rural E-commerce College, shared practical experiences and insights on the development of new media and e-commerce, emphasizing their significance in expanding agricultural product sales and increasing farmers' income [2][5] Group 1 - The training was conducted on August 23, focusing on the empowerment of rural revitalization through new media [3] - Zhang Baotang utilized relatable language and vivid case studies to explain the evolution of new media and e-commerce, helping attendees grasp the opportunities presented by these platforms [2] - Participants expressed excitement about applying the learned strategies, such as live streaming to promote local products, indicating a strong interest in practical implementation [2][5] Group 2 - The successful training session resulted in a clearer understanding of how new media can empower rural revitalization, boosting the confidence and capabilities of the attendees [5] - Attendees committed to applying the knowledge gained from the training to explore new development paths suitable for their villages, thereby contributing to the rural revitalization efforts [5]

Core Insights - The 33rd Guangzhou Fair, themed "Dual Empowerment Promotes Circulation, New Quality Innovation Creates the Future," aims to cultivate and develop new quality productivity while achieving a market-oriented exhibition model with zero financial input from the municipal government [2][3] - The exhibition area has expanded to nearly 180,000 square meters, representing a year-on-year growth of over 50%, with participation from over 4,000 exhibitors and buyers [2][3] Group 1: Event Highlights - The fair features several "firsts," including a dedicated new quality productivity exhibition area, a robot performance zone, and a consumer assistance exhibition, showcasing over 2,000 inventions from more than 30 countries [3][4] - A domestic city exhibition area has been established to promote regional collaboration and consumer upgrades, providing a platform for showcasing local brand products and tourism resources [3][4] Group 2: Economic Impact - The consumer assistance exhibition has attracted over 320 enterprises from 80 cities, leveraging the unique market scale of the Guangdong-Hong Kong-Macao Greater Bay Area to support rural revitalization [4][5] - The fair has continuously supported rural revitalization efforts for five years, featuring high-quality agricultural products from over 1,000 enterprises in collaboration with poverty alleviation regions [5] Group 3: Technological Innovation - The introduction of the new quality productivity theme exhibition and the robot performance zone highlights Guangzhou's commitment to showcasing cutting-edge technologies in smart manufacturing and artificial intelligence [5] - The fair aims to create 100 demonstration application scenarios in fields such as artificial intelligence and low-altitude economy, showcasing innovative products from leading tech companies [5]

Core Viewpoint - The speech by Chinese Ambassador to the U.S. Xie Feng emphasizes the potential for cooperation between China and the U.S. in the agricultural sector, highlighting their roles as major agricultural producers and consumers globally [1] Group 1: Agricultural Cooperation - China and the U.S. together account for nearly 40% of global food production and about 25% of global food consumption [1] - China has a comparative advantage in labor-intensive agricultural products, while the U.S. focuses on mechanized and large-scale production of land-intensive bulk agricultural products [1] - Agricultural exchanges and cooperation between the two countries have enriched consumer choices in both nations and provided financial benefits to American farmers [1] Group 2: Political Context - Xie Feng argues that agriculture should not be politicized and that farmers should not bear the brunt of trade wars [1] - He criticizes restrictions on Chinese citizens and companies purchasing farmland as a manipulation of national security for political purposes [1] - The ambassador calls for the implementation of important consensus reached by the leaders of both countries and emphasizes the need for enhanced cooperation to share development benefits and return to a win-win situation [1] Group 3: Industry Associations and Future Actions - The event was co-hosted by the American Soybean Export Council and the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-Products, with participation from industry associations, agricultural enterprises, and scholars from both countries [1] - Xie Feng encourages industry associations and enterprises to actively engage in cooperation, reject the politicization of trade issues, and pursue collaborative initiatives to foster healthy growth in China-U.S. agricultural cooperation [1]

Core Viewpoint - The monitoring of market prices for 50 important production materials across nine categories indicates a mixed trend, with 27 products experiencing price increases, 17 seeing declines, and 6 remaining stable in mid-August 2025 compared to early August 2025 [2][3]. Group 1: Price Changes in Major Categories - In the black metal category, rebar prices decreased by 6.4 yuan per ton (-0.2%), while ordinary medium plates increased by 19.1 yuan per ton (0.5%) [4]. - In the non-ferrous metals category, electrolytic copper rose by 735 yuan per ton (0.9%), while aluminum ingots increased by 55.5 yuan per ton (0.3%) [4]. - Chemical products showed varied results, with sulfuric acid increasing by 2.1 yuan per ton (0.3%) and methanol decreasing by 3.9 yuan per ton (-0.2%) [4]. - The petroleum and natural gas sector saw liquefied natural gas prices drop by 184.8 yuan per ton (-4.4%), while gasoline prices also fell [4]. - In the coal category, the price of ordinary mixed coal rose by 23.5 yuan per ton (4.3%), indicating a positive trend [4]. - Agricultural products like cotton increased by 225.9 yuan per ton (1.6%), while corn prices fell by 10.3 yuan per ton (-0.4%) [5]. Group 2: Monitoring Methodology and Scope - The monitoring covers 31 provinces and municipalities, involving over 2,000 wholesalers, agents, and distributors [8]. - Price monitoring methods include on-site price collection, telephone inquiries, and electronic communications [9]. - The price changes are categorized based on percentage changes, with a total of 27 products increasing, 17 decreasing, and 6 remaining stable [10].

Core Points - The EU and the US announced a new trade agreement detailing tariffs and market access, with the US imposing a 15% tariff on most EU goods while exempting certain products [1] - The EU committed to eliminating tariffs on US industrial goods and providing preferential market access for US seafood and agricultural products [1] - The EU plans to purchase $750 billion worth of US liquefied natural gas, oil, and nuclear products by 2028, along with $40 billion in US AI chips [1][2] Group 1 - The US will impose a 15% tariff on most EU imports, while certain natural resources, aircraft, and generic drugs are exempt [1] - The EU will eliminate tariffs on US industrial products and provide preferential access for US seafood and agricultural goods [1] - The EU aims to significantly increase its procurement of US military and defense equipment [1] Group 2 - The agreement has raised concerns about fairness, with critics arguing it disproportionately favors the US [4][8][16] - There are unresolved issues regarding steel and aluminum tariffs, with no clear solution provided in the agreement [9] - The digital regulatory divide remains a significant point of contention, with no substantial progress made in this area [11] Group 3 - The agreement has been described as a "terrible, complete surrender" by some EU officials, highlighting the lack of reciprocity [8] - Concerns have been raised about the potential negative impact on European growth and employment due to the perceived imbalance in the agreement [16] - The agreement lacks legal binding, raising questions about its long-term viability and enforcement [20][23] Group 4 - The EU is expected to initiate legislation to ensure the US commits to reducing auto tariffs retroactively [23] - The agreement is seen as a "loss control document" for the EU, reflecting its dependency on the US [23][25] - Future negotiations are anticipated to address a fair and balanced trade agreement, although skepticism remains about the EU's leverage [25]