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September 4th - First Citizens Bank stated that Fridays U.S. jobs report will show whether the labor market remains in a state of "low hiring, low layoffs." In this state, slowing hiring and limited layoffs, along with a shrinking labor force, offset each other, keeping the unemployment rate generally stable. Key data to watch includes non-farm payrolls, the unemployment rate, labor force size, and revisions to data from previous months. A significant decline in non-farm payrolls or a further contraction in the labor force would be an early sign that the labor market stagnation is beginning to shift towards broader weakness.On September 4th, the "15th Five-Year Plan for Accelerating Agricultural and Rural Modernization in Sichuan Province" was issued. It mentions the comprehensive implementation of the responsibility system for farmland protection and food security, ensuring that the grain planting area remains stable at over 96 million mu. A new round of grain production capacity improvement actions will be implemented, deepening the construction of the "Tianfu Granary • Hundred Counties, Thousand Areas" initiative, carrying out "ton-grain field" construction, promoting the integrated efficiency of "four good" (good land, good seeds, good machinery, good methods), and systematically advancing large-scale yield increases. The grain planting structure and regional layout will be optimized, continuously improving rice and corn production capacity, stabilizing wheat production, consolidating the achievements of soybean and oilseed expansion, and developing autumn-winter potatoes and ratooning rice according to local conditions. Provincial-level fiscal subsidies for large grain growers and grain production incentive policies will be implemented, and the minimum purchase price policy for rice will be implemented. Full-cost insurance for the three major grain crops and full-cost and planting income insurance for soybeans will be comprehensively promoted.On September 4th, the Qijing GX7 officially opened for pre-sale.September 4th - A comprehensive set of optimized policies for Beijings housing market officially took effect on August 8th, addressing issues from multiple dimensions, including easing purchase restrictions, significantly increasing public housing fund loan limits, and optimizing property gifting rules. Now, nearly a month after the policies implementation, new home sales offices are seeing increased foot traffic, and viewings and transactions for existing homes are also rising, indicating a continued activation of demand from first-time homebuyers and those seeking to upgrade their homes. Data released by the Beijing Municipal Commission of Housing and Urban-Rural Development shows that in August, Beijings new home sales reached 3,100 units, a year-on-year increase of 10.3%; existing home sales reached 13,700 units, a year-on-year increase of 4.1%, marking the sixth consecutive month that existing home sales have exceeded 13,000 units.September 4th - Preliminary shipping data released on Friday showed that four commodity carriers transited the Strait of Hormuz on Thursday, down from nine the previous day and significantly below the daily average of approximately 15 over the past 10 days. Kpler data showed that as of 4:55 AM GMT on Friday (12:55 PM Beijing time), vessels transiting the Strait of Hormuz included two medium-range oil tankers, one Kamsarmax bulk carrier, and one Handysize bulk carrier. The number of vessels transiting the waterway is subject to change as some vessels typically turn off their transponders during voyages.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."


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