Russia -The Ministry of Agriculture stated that the export duty on Russia’s wheat will be raised from USD61.3 to USD67 per ton on October 27. Duties on corn will also be increased to USD49.7 per ton. https://menafn.com/1103028921/Russia-to-increase-wheat-export-duty-once-more-in-coming-week

Palm oil, the world's most consumed vegetable oil, surged to a new record high, spreading concerns about persistent global food inflation. Malaysia's palm oil futures soared more than 40% this year, while soybean oil is up more than 50%. Prices of canola oil are also at a record. https://www.zerohedge.com/commodities/edible-oil-prices-hit-record-high-food-inflation-treat-soars

Fitch Ratings showed that British consumer price index (CPI) will likely increase severely during the second half of this year because of rising worldwide energy and products values. CPI inflation will increase to 4.3 percent by the end of this year, rising from its last prediction of 3.4 percent in September. https://menafn.com/1103029696/UK-inflation-jumps-severely-within-increase-in-energy-products-values

UK - Tesco’s website and app have gone down due to a suspected hack. The outage, which left customers struggling to shop for groceries or track orders, began on Saturday morning and continued into Sunday. The supermarket giant said the problem was due to an attempt to “interfere” with its systems. https://www.independent.co.uk/business/tesco-website-attack-leaves-shoppers-unable-to-order-b1944337.html

Russian foreign exchange holdings grew by 0.8% over the week ending October 15, reaching $620.3 billion. The regulator says the country’s international reserves rose by $4.9 billion from October 8, as a result of positive revaluation as well as foreign currency purchases. The holdings of monetary gold increased by 0.14% last month to 73.9 million ounces (2,298.547 tons) as of October 1. https://www.rt.com/business/538086-russia-forex-reserves-growth/

A worldwide increase in wheat prices after bad harvests in Russia is forcing French bakers to raise the price of that staple of life in France - the baguette. Boulangeries around France have begun putting up signs warning their customers of an increase in the price of their favourite bread due to rising costs. https://www.thelocal.fr/20211025/baguette-prices-rise-in-france-after-poor-wheat-harvest/

Nigeria central bank digital currency (CBDC), the eNaira, has gone live after an official launch by President Muhammadu Buhari. “We have become the first country in Africa and one of the first in the world to introduce a digital currency to our citizens,” https://guardian.ng/news/nigeria-launches-enaira-digital-currency/

Microsoft, in a blog post dated Oct. 24, said Nobelium's latest wave targeted "resellers and other technology service providers" of cloud services. Those attacks were part of a broader campaign over the summer, Microsoft said, adding it had notified 609 customers between July 1 and Oct. 19 that they had been attacked. https://www.msn.com/en-ca/money/topstories/latest-russian-cyberattack-targeting-hundreds-of-us-networks-microsoft/ar-AAPVqhB

SPRING WHEAT surged to $10 a bushel for the first time since 2012 as hot and dry crop conditions from North America’s prairies to Russia’s Urals leaves the world short on grain. Prices climbed for the sixth straight week, the longest run of gains in more than two years, as a global appetite grows for wheat of all types. https://www.bworldonline.com/wheat-hits-new-highs-as-world-appetite-grows-supply-shrinks/

WTI crude hit the psychologically important $85 per barrel mark earlier on Monday—the highest the U.S. crude benchmark has traded since October 2014. The skyrocketing crude prices are largely the result of gas-to-oil switching amid a natural gas crisis in Europe and Asia. According to a note to clients from Goldman Sachs, it sees global crude oil demand could see a million barrel per day bump as the price of natural gas booms. The bank estimates that global oil demand has already passed the 99 million bpd mark, and will return to 100 million bpd with Asia’s demand rebounding. https://oilprice.com/Latest-Energy-News/World-News/WTI-Crude-Hits-Highest-Level-In-7-Years.html

A former Marine who conducted cyber missions for the U.S. told CNBC on Monday the threat of a cyberattack on the U.S. chain supply keeps him awake at night. David Kennedy, also the founder of cybersecurity companies TrustedSec and Binary Defense, said successful attacks may embolden adversarial nations. https://www.msn.com/en-us/news/other/ex-nsa-hacker-says-a-supply-chain-cyberattack-is-one-of-the-things-that-keeps-him-up-at-night/ar-AAPWqUv

Brazil - Consumer prices jumped 1.2% from the month prior, more than all estimates in a Bloomberg survey, the national statistics institute. It was the biggest increase for mid-October since 1995. Annual inflation accelerated to 10.34%. https://finance.yahoo.com/news/brazil-consumer-prices-blow-past-121203384.html

Iran - A cyberattack disrupted the sale of heavily subsidised gasoline in Iran, causing long lines at gas stations across the country weeks before the anniversary of 2019 street protests that followed fuel price hikes. https://www.usnews.com/news/top-news/articles/2021-10-26/iran-says-cyberattack-causes-widespread-disruption-at-gas-stations

Among the regions hardest hit by drought this year is the western third of the U.S., extending across the northern plains and Canadian Prairies, says Dale Mohler, AccuWeather senior meteorologist. “At one point, areas from the northern Rockies to the Dakotas were 10 [to] 15 inches behind normal” in rainfall — and in the far western and southwest U.S., the drought has been long term — just over a decade. https://www.msn.com/en-us/money/markets/e2-80-98weather-extremes-appear-to-be-increasing-e2-80-99-drought-conditions-send-oats-wheat-and-other-commodities-soaring/ar-AAPQ9Cc?pfr=1

Starting on Nov. 1, the ports will charge shipping companies that fall into one of two categories: containers scheduled to move by truck and containers moving by rail. In the case of containers scheduled to move by truck, shipping companies will be charged for every container that stays in marine terminals for nine days or longer. For those moving by rail, shipping companies will be charged if the container stays for three days or more. https://www.theepochtimes.com/shipping-companies-at-ports-of-los-angeles-and-long-beach-will-soon-be-fined-for-staying-too-long-in-marine-terminals_4071146.html?utm_source=partner&utm_campaign=ZeroHedge

The European Union’s exports may top 11 million tons by the end of this month, according to Nathan Cordier, an analyst at consultant Agritel. That would be 25% more than a year earlier and the most for that time of the season in EU data going back two decades. The strong demand has helped push Paris milling-wheat futures toward a record high. https://www.bloomberg.com/news/articles/2021-10-26/the-world-is-gobbling-up-european-wheat-like-never-before

The auto industry has faced a global shortage of semiconductor chips since February. The chips are used in many car parts and, without them, production at many GM plants has either slowed or stopped completely, leaving dealers' new car lots bare. https://www.msn.com/en-us/money/companies/amid-a-computer-chip-and-car-parts-shortage-gm-third-quarter-profits-plummet-40-25/ar-AAQ1r9E?pfr=1

The European Central Bank (ECB) has announced the new members of the Market Advisory Group for the forthcoming digital euro project. It will include advising the Eurosystem on the design and distribution of a potential Eurozone’s central bank digital currency (CBDC) ‘from an industry perspective’ https://www.financemagnates.com/cryptocurrency/news/ecb-appoints-30-members-for-the-digital-euro-market-advisory-group/

Hackers have stolen about $130 million worth of cryptocurrency assets from Cream Finance, by exploiting a bug in their flash loaning system to siphon away all Ethereum-based tokens on the platform. This is Cream Finance’s third hack this year alone. The decentralized finance (DeFi) platform allows users to loan and speculate on cryptocurrency price variations. https://www.msn.com/en-us/news/technology/another-crypto-marketplace-has-been-hit-by-a-major-cyberattack/ar-AAQ3zNe?pfr=1

European corn farmers are facing the prospect of having to leave crops in fields because of the energy crunch. The grain typically needs to be dried down after it’s collected to ensure the proper moisture content, a task that’s becoming more costly as gas prices surge. Most of the region’s harvest is collected through November. https://www.bloomberg.com/news/articles/2021-10-27/gas-suppliers-tell-french-corn-farmers-to-leave-crop-in-field

China has dramatically ramped up coal imports from Russia to compensate for shortages caused by the ongoing trade row with Australia, once the country’s biggest coal supplier. According to customs data, China’s coal imports surged 76% in September compared to the same period a year ago, and totaled 32.9 million tons. Much of the coal came from Russia and Indonesia. https://www.rt.com/business/538672-china-triples-coal-purchases-russia/?fbclid=IwAR3riDZD_FW9Z8wy34bDf-_U7BeOVR-Mm9J8zAEKYMS14RNahQt3QGOECJg