China - A government notice issued last Monday advising households to stock up on daily necessities and a snow forecast reinforced the rush this year, with long early morning queues forming outside supermarkets in downtown Beijing. “Every year at this time the [cabbage] sales volume is high. But after the report came out, everyone rushed to buy even more,” https://www.scmp.com/economy/china-economy/article/3155274/china-food-security-beijing-residents-stock-cabbages-winter

US- California’s exceptional drought and new restrictions on groundwater pumping are forcing them to do what was unthinkable until just a few years ago: uproot tens of thousands of fruit and nut trees and leave the land barren. Farmers are being forced to fallow — a term for plowing land and leaving it unplanted — their fields and orchards in unprecedented numbers due to the water shortage by droughts which are becoming longer and more severe; and the state has begun to implement the Sustainable Groundwater Management Act, new restrictions designed to stop growers and other users from depleting aquifers. https://www.sfchronicle.com/politics/article/To-fight-off-a-California-dust-bowl-the-state-16596612.php

UK- The Bank of England and the Treasury are to launch a formal consultation on a UK central bank digital currency. This evaluation of the design and possible benefits a new kind of digital money is a further step towards its possible creation. A technical specification would follow the consultation explaining the proposed conceptual architecture for any CBDC. "This could involve in-depth testing of the optimal design for, and feasibility of, a UK CBDC," https://www.yahoo.com/now/bank-england-takes-next-steps-184848753.html

Deere & Co. customers are facing weeks-long delays for parts orders as a strike at the world’s biggest farm-equipment maker continues. Parts and components that U.S. farmers need to keep combines running in the busiest farming season of the year are taking as many as three weeks to reach customer hands -- an eternity when fields need to be quickly harvested to stay ahead of wintry weather, according to dealers and customers in the industry. https://www.bloomberg.com/news/articles/2021-11-05/the-deere-strike-is-starting-to-ripple-across-supply-chains

Robinhood Markets (NASDAQ:HOOD) has said that the personal information of about seven million people, roughly a third of its customers, was compromised in a cyberattack last week. The hacker obtained email addresses of about five million people as well as full names for a separate group of about two million people, https://menafn.com/1103131069/Robinhood-Says-Seven-Million-Brokerage-Accounts-Impacted-By-Cyberattack

USA - Milk distribution was in disarray in Wisconsin this week as one of the state’s larger milk processors, Schreiber Foods, was victimized by hackers demanding a rumored $2.5 million ransom to unlock their computer systems. “Schreiber is one of the nation’s big marketers of dairy products, including cheese and yogurt and their supply chain extends back to many Wisconsin cheese plants. “It’s a lose, lose, lose scenario – the farmer, the cooperative, the cheese plant and other companies that buy ingredients from Schreiber,” he said. “Maybe it’s more like four or five ‘loses’ in that equation.” https://www.wisfarmer.com/story/news/2021/10/26/schreiber-foods-hit-cyberattack-plants-closed/8558252002/

Consumers and businesses in the Asia Pacific region can now apply for bitcoin-linked Mastercard credit, debit, and prepaid cards. The card giant partnered with cryptocurrency service providers Amber, Bitkub, and CoinJar to enable customers to pay for regular purchases with BTC. On the backend, cryptocurrency in the user’s account is instantly converted into fiat currency to allow the payment. https://bitcoinmagazine.com/business/mastercard-launches-bitcoin-payment-cards-in-asia-pacific

Legislation including the Civil Code, Tax Code, Budgetary Code, Criminal Code, and Administrative Code, must be amended for the establishment of the digital ruble. Alexey Minaev, deputy director of the development department of the digital economy of the Ministry of Economy, said: “At the very least, it must be said that it will be possible to pay with a digital ruble, unlike conventional digital currencies.”
The Central Bank of Russia, which announced that 12 banks would be involved in the pilot trial and a roadmap will be developed following the results of the trial. https://finance.yahoo.com/news/russia-begin-digital-ruble-platform-164308593.html

Wheat climbed from Minneapolis to Paris after a Russian official suggested the country could raise grain-export taxes if prices surged, adding to concerns about an already tight global market. Russia could revise the formula behind its floating grain-export tax if there is a significant increase in global prices, Agriculture Minister Dmitry Patrushev said at a government meeting Wednesday. The tax has been in place since mid-year in an effort to slow sales abroad and cool domestic food inflation. Russia also plans to set a grain-export quota again in the first half of next year, he said. https://www.bloomberg.com/news/articles/2021-11-10/wheat-jumps-as-russia-tax-comments-add-fuel-to-a-jittery-market

The London Metal Exchange is considering whether it should sometimes block traders from withdrawing inventory from its warehouses, in order to guard against running out of metal entirely. Such a move would mark a significant shift in philosophy for the 144-year-old LME, which has long trumpeted its role as a “market of last resort” -- into which producers can deliver unwanted metal in times of glut, and to which consumers can turn for supplies in times of scarcity. https://finance.yahoo.com/news/copper-chaos-lme-mulls-rules-193313183.html

Wheat prices climbed above $8 a bushel for the first time in nearly nine years, with demand for the commodity going strong and supplies expected to end the 2021-2022 marketing year at their lowest in more than a decade. “Global demand remains robust at record, or near-record, levels, with foreign buyers aggressively purchasing wheat supplies during the past several weeks,” https://www.barrons.com/articles/higher-wheat-prices-lead-to-rising-bread-costs-51636626601

The Kremlin said on Friday that Belarusian leader Alexander Lukashenko had not consulted Moscow before raising the possibility of cutting natural gas flows to Europe, and that Russia was a reliable exporter that fulfilled its obligations. https://news.yahoo.com/kremlin-says-lukashenko-did-not-104429136.html

USA - Supply chain issues are starting to hit the Midwest and part of the problem with getting goods where they need to go is the lack of qualified truck drivers. Right now, Bob Costello, the Chief Economist for the American Trucking Association, tells 6 News that there’s a shortage of nearly 80,000 drivers. He says the industry needs to recruit one million new drivers over the next nine years to replace retiring drivers. https://www.wowt.com/2021/11/05/supply-chain-issues-stemming-truck-driver-shortage/

The world’s largest meat supplier JBS S.A. (Brazil) is finding that a shortage of workers are affecting operations in every developed nation, limiting production increases and raising costs. The issue is more acute in the U.S. though it also impacts operations in Europe, Canada and Australia, with a lack of direct and indirect workers, https://www.bloomberg.com/news/articles/2021-11-11/top-meat-firm-jbs-says-labor-woes-hurting-business-across-globe

Canada - The Toronto Transit Commission has confirmed that the personal information of tens of thousands of employees may have been compromised as a result of a ransomware attack on its systems last month. The TTC, which operates Toronto’s bus, subway, streetcar and paratransit systems, said the compromised data includes the names, addresses and Social Insurance Numbers of 25,000 past and present employees. https://techcrunch.com/2021/11/10/toronto-cyberattack-employee-data/

Corn prices in China have pushed to multi-month highs despite the advancing harvest after wet weather slowed crop collection just as record energy prices pushed up grain drying and logistics costs, analysts and traders said. "Rains and snow delayed sales of the new crop to market in Liaoning (province), the northwestern and northern regions, while logistics at ports in Liaoning were suspended due to the bad weather," https://www.nasdaq.com/articles/china-corn-prices-rise-as-bad-weather-delays-crop-shipments-2021-11-12

USA- The FBI email system had reportedly suffered a hack on Saturday morning amid several reports of messages sent from the agency's email infrastructure purporting to be a warning from the Department of Homeland Security (DHS) about a cyberattack. "While the emails are indeed being sent from infrastructure that is owned by the FBI/DHS (the LEEP portal), our research shows that these emails *are* fake." Some social media users reported receiving the strangely worded email, which refers to "a sophisticated chain attack" and references "the extortion gang TheDarkOverlord." https://a.msn.com/01/en-us/AAQEYTJ?ocid=winp-st

Soybean futures rose about 2% on Friday, led by soaring soymeal futures tied to technical buying, brisk demand for the high-protein feed ingredient and logistical hurdles, traders said. "The feeling is, we are going to see the Chinese trying to feed more soybean meal and less corn, with the corn tighter than meal," "The ethanol guys have these massive margins, so they are running hot and bidding up to buy all the corn they can," https://www.nasdaq.com/articles/grains-soybeans-climb-as-soymeal-surges-u.s.-wheat-nears-9-year-top-2021-11-12

USA - Inflation hits highest mark in 31 years. The federal government reported that inflation has surged over the past 12 months as the U.S. economy recovers from the coronavirus pandemic. The consumer price index increased by 0.9% in October, the U.S. Bureau of Labor Statistics said, leaving prices 6.2% higher than a year earlier. It's the largest 12-month increase since 1990. https://a.msn.com/00/en-us/AAQEWHj?ocid=winp-st

Iraq - 447 families who were forced from their land in Nineveh by IS and then returned to it after the jihadists' defeat were forced to leave again between June and July this year because of the drought.
"Nearly all, if not all, the families were displaced due to inability to feed their cattle," the IOM said. In 2020, 927,000 tonnes of wheat were harvested in Nineveh, making it a "self-sufficient" province. https://www.ibtimes.com/drought-forces-iraqi-farmers-leave-their-land-3337388

US - Farmers have no other choice than to search for used tractors, equipment, and parts at auction houses because the strike at Deere is inhibiting their ability to source new parts or tractors. Thanks to the Deere strike and supply chain woes, secondary farm equipment markets are seeing an abundance of demand that is driving up prices. Some farmers cannot source parts or find suitable tractors for the next season, which may affect their plantings. https://www.zerohedge.com/markets/used-tractor-prices-skyrocket-amid-deere-strike