Argentina's new government may seek to raise taxes on some grain exports

According to foreign media reports, the local newspaper La Nacion reported on Wednesday, citing official sources, that the new government led by Argentine President Javier Milei (Javier Milei) will seek to raise export taxes on some grains to 15%, but it will not affect tariffs on soybeans. Just a day ago, Brazil's economy minister, Luis Caputo, proposed economic measures to resolve the struggling economy, including that the government would raise taxes on certain exports, but he has said that this does not apply to the agricultural sector. Argentina is one of the world's largest exporters of processed soybean oil and soybean meal, the third largest exporter of corn, and an important producer of wheat and beef.

US PPI data for November fell short of expectations

Producer prices in the US in November fell short of expectations against the backdrop of falling energy costs. The PPI monthly rate in November was 0%, and the market expects an increase of 0.1%. The core PPI after excluding food and energy also remained the same, and the market is expected to increase by 0.2%. The annual rate of PPI in November was 0.9%, and the annual rate of core PPI increased by 2%. Analyst Cameron Crise said that today's PPI data is in line with the market's appetite, and lower-than-expected data provides some reasons for aggressive interest rate price cuts.

Private exporters report exports and sales of 125,000 tons of soybeans to unknown destinations

The US Department of Agriculture (USDA) released data. Private exporters reported exporting and selling 125,000 tons of soybeans to unknown destinations, with delivery in 2024/2025. The U.S. soybean market year begins on September 1.

OPEC Monthly Report: The growth rate of global crude oil demand in 2023 is predicted to be 2.5 million b/d

According to OPEC's monthly report, the growth rate of global crude oil demand in 2023 is forecast to be 2.5 million b/d. (Previously 2.46 million b/d) The growth rate of global oil demand in 2024 is forecast to be 2.2 million b/d. (Previously 2.25 million b/d) Speculators played an important role in the “significant decline” in crude oil futures prices. OPEC crude oil production fell 57,000 b/d to 27.84 million b/d in November. Saudi crude oil production increased by 12,000 b/d to 8.99 million b/d in November. In November, Iraq's crude oil production fell 77,000 b/d to 4.28 million b/d.

Did Salt Lake Co., Ltd. reveal that lithium carbonate did not meet the broad delivery standards? Industry: Almost all domestic salt lake lithium-ion carbon products do not meet the requirements. If delivery takes place, a water discount of 25,000 yuan/ton is required

Today, an inspection report for lithium brine carbonate products of Qinghai Salt Lake Lanke Lithium Co., Ltd. (a subsidiary of Salt Lake Co., Ltd.) published on the Internet for analysis on July 3 showed that “the main content of the product conforms to battery-grade lithium carbonate standards, with magnesium, chloride, potassium, and boron contents exceeding the standard.” The Blue Whale Finance Correspondent called the Salt Lake Securities Department as an investor. A relevant person replied, “The main content of our products is in line with battery-grade lithium carbonate standards.” When asked if it complies with the futures standards of the Guangzhou Futures Exchange, the person mentioned above said, “We are not currently engaged in futures business.” However, when asked if the inspection report posted on the Internet was true, the person mentioned above responded, “Please refer to the official (caliber).” In addition, the reporter learned from a number of people in the lithium carbonate industry that almost all domestic salt lake lithium battery carbon products, including Salt Lake Co., Ltd., do not originally meet the standard delivery standards of the broadcasted standard products. If they were to be delivered, they would be used as replacement deliveries, and would require a water discount of 25,000 yuan/ton or further purification.