Argentina -Of the 55 million tonnes of corn expected by the Buenos Aires Grains Exchange to be harvested next season, 38.5 million have been sold, said the government source, who asked not to be named due to the sensitivity of the matter. "An order of priorities has been established over export declarations. Priority will be given to exporters who have corn purchased and cargo ships assigned," the ministry source said. "We have five months to go before the harvest starts and 38.5 million tonnes in exports declarations have already been registered," the source added. https://www.nasdaq.com/articles/argentina-prioritizes-sales-of-harvested-corn-over-sales-of-next-crop-source-2021-10-12

Microsoft says this particular attack targeted one of its customers in Europe. And said it was 140% stronger than the previous-highest attack in 2020. The attack flooded the system with 2.4 terabytes of data every second. That's compared to the 1Tbps attack in late summer last year. A single terabyte is 1,000 gigabytes, which itself amounts to the equivalent of hundreds of 4K movies. Flooding a system with that amount of data every second is very hard to do. According to Microsoft, the attack lasted around ten minutes. https://www.the-sun.com/tech/3840958/microsoft-cyberattack-china-asia-ddos-attack/

U.S. prices for organic soybeans used to feed livestock and manufacture soy milk have surged to record highs as imports that make up most of the country’s supply have declined, triggering price increases for food including organically raised chicken. The costly soybeans and higher-priced organic products are fueling food inflation. The $56 billion U.S. organic food sector is also grappling with a shortage of shipping containers and a tight labor market as global food prices hit a 10-year high. https://www.msn.com/en-us/foodanddrink/foodnews/analysis-e2-80-98it-e2-80-99s-a-madhouse-e2-80-99-organic-us-soy-prices-hit-record-fuel-food-inflation/ar-AAPn7G9

The U.K.’s largest container port is the latest port worldwide to experience the problems related to the surge in container shipping in 2021. Felixstowe, which handles more than a third of all containers in the U.K. was forced to briefly suspend the return of empties, and as the delays and congestion mounted major carriers including Maersk have begun to divert ships from the British port. Among the issues that have been causing problems at the port is a shortage of truck drivers to move the containers. https://maritime-executive.com/article/maersk-diverts-ships-and-containers-as-backlog-snarls-uk-ports

The African Swine Fever is now in Northern Hemisphere and that is making U.S. hog farmers nervous. The most likely introduction of that disease to our shore would come via people traffic and bringing pork products with them.” African Swine Fever is a highly contagious disease of domestic and wild pigs which can lead to economic and production losses. Transmission can occur through feed, but also from objects like shoes, clothes, vehicles, etc. https://www.marshallindependent.com/news/local-news/2021/10/hog-farmers-nervous-about-african-swine-fever-now-in-northern-hemisphere/

Iran needs to buy a record 8 million tonnes of wheat in the current season, Iranian industry sources said, after its domestic crop was hit by drought, while the jump in imports will coincide with high global grain prices adding to pressures on the country's finances. https://www.nasdaq.com/articles/iran-buying-record-volume-of-wheat-after-worst-drought-in-50-years-sources-2021-10-13-0

The Bank of England's (BoE) fintech lead Tom Mutton has stressed that the bank was keeping an "open mind" on the rollout of a digital pound as it explores a central bank digital currency (CBDC), but that hasty implementation could lead to "bad outcomes". https://finance.yahoo.com/news/britcoin-cbdc-bank-of-england-digital-currency-tom-mutton-092114017.html

The IMF report warned that countries adopting bitcoin or other cryptocurrencies as legal tender could hamper their central banks’ efforts to set monetary policy, cause liquidity risks and destabilize economies. Although the report doesn’t name El Salvador, the IMF has said repeatedly the Central American country’s Bitcoin Law poses “macroeconomic, financial and legal issues.” https://ca.news.yahoo.com/imf-report-views-cryptoization-threat-005402350.html

Japanese technology company Olympus said on Tuesday it was investigating a cyberattack on its IT systems in the U.S., Canada and Latin America. The BlackMatter ransomware group is one of the most productive ransomware groups that operate today after it emerged this summer from the remnants of the DarkSide ransomware group. https://www.itworldcanada.com/post/olympus-hit-with-second-cyberattack-this-year

Sugar production in Brazil's center-south region fell 19% year-on-year in the second half of September to 2.31 million tonnes, adding that dozens of mills have already finished crushing for the season.
Sugarcane crushing late in September was down 11% to 35.8 million tonnes, while ethanol production fell 8% in the period to 1.98 billion liters. Brazil, the world's largest sugar producer, is having a poor season due to drought and frosts that hurt the cane fields, and will produce around 6 million tonnes less than last season. https://www.nasdaq.com/articles/brazilian-sugar-output-down-19-late-in-sept-some-mills-ending-crush-2021-10-13

The Sri Lankan government ended price controls on essential foods in a bid to end black market trading as food shortages worsen amid a foreign currency crisis. The cabinet decided to free prices for milk powder, wheat flour, sugar and liquified petroleum gas hoping it would increase supplies. "Prices could go up by as much as 37 per cent across the board, but it is hoped dealers will not make unconscionable profits," https://www.msn.com/en-in/news/world/sri-lanka-allows-sharp-rise-in-food-prices-to-ease-shortages/ar-AAPh2ee

USA- According to government data released, prices for food and rents increased in the world's largest economy last month. The Labor Department's consumer price index (CPI) rose 5.4 percent, seasonally adjusted, in September compared to the same month a year ago. Food and housing prices accounted for more than half of the overall gain. https://www.msn.com/en-xl/money/markets/food-and-rent-prices-drive-us-inflation-spike-in-september/ar-AAPts6z

The owner of the UK’s biggest poultry supplier has warned that the cost of chicken is expected to rise by more than 10%, adding that food in Britain is “too cheap.” “The days when you could feed a family of four with a £3 chicken are coming to an end. We need transparent, honest pricing. This is a reset and we need to spell out what this will mean,” https://www.theguardian.com/business/2021/oct/13/uks-biggest-poultry-supplier-warns-of-big-rise-in-price-of-chicken-boparan-bernard-matthews-2-sisters

Soaring wheat prices are expected to remain in the short term as markets stay bullish. This week saw the London November 2021 feed wheat futures contract climb to £208.50/t, a jump of £8.50 on the week. Stock levels for wheat in major exporting countries are down to their lowest levels since 2008, according to the AHDB. This, coupled with tight supply of wheat in the northern hemisphere due to adverse weather in the US, Canada and Russia, is driving global prices. https://www.fwi.co.uk/business/markets-and-trends/crop-prices/soaring-wheat-prices-and-uncertainty-ahead-in-grain-markets

Binance will discontinue Chinese yuan trading on December 31. The crypto exchange said it would run checks to ensure users in mainland China can only make withdrawals. Chinese authorities declared all crypto-related transactions illegal and banned foreign exchanges from providing services to the country's residents. https://www.msn.com/en-us/money/other/binance-to-halt-chinese-yuan-crypto-trading-and-restrict-mainland-china-customers-to-withdrawals-only/ar-AAPsBbc

USA- Fresno, Calif.-based United Health Centers, which has 21 locations across California, was hit by a ransomware attack that reportedly forced its entire network to shut down and resulted in patients' data being stolen. https://www.beckershospitalreview.com/cybersecurity/stolen-patient-data-posted-on-the-dark-web-after-cyberattack-on-california-clinics.html

SUPPLY CHAIN UPDATE - Agrimark and Dairy Farmers of America say they can’t hire enough truckers. In England, lack of truckers has left gas stations with empty tanks, grocery stores with many items sold out and ships turning away from ports that are jammed with ships that can’t unload because there is a lack of truckers to haul the stuff away. In Canada, Trucking HR reports there’s a shortage of 18,000 drivers. Sixty-one per cent of employers say they can’t get enough. https://www.theobserver.ca/news/farm-news/trucker-shortage-is-global/wcm/3d62b8f1-edca-4fab-9778-346278291c5f

Inflation in Germany climbed to 4.1 percent in September, the highest rate since December 1993, the Federal Statistical Office (Destatis) announced. Prices for energy increased significantly in September by 14.3 percent, according to Destatis. Compared to last year, prices for heating oil and motor fuels soared 76.5 and 28.4 percent respectively. https://www.news.cn/english/europe/2021-10/13/c_1310242757.htm

China has raised the mininmum purchasing price for wheat in 2022, as part of an effort to enhance grain security in the country. The National Development and Reform Commission has set the 2022 minimum purchase price for wheat at 2,300 yuan ($357) per tonne, up from 2,260 yuan per tonne in 2021. China buys wheat from farmers at the minimum price when the market price drops below that level in order to support food production. The move came amid a renewed policy focus on food security from the government, and also comes after China raised the 2021 minimum purchasing price for wheat, the first it had increased this price since 2014. https://www.nasdaq.com/articles/china-raises-2022-minimum-purchase-price-for-wheat-to-2300-yuan-t-2021-10-14-0

Russian President Vladimir Putin said cryptocurrencies have value, but they can’t be used to settle oil trades yet. “It exists and may be used as means of payment, but to use it in trading in oil or other energy resources — it’s too early to talk about this,” Putin said. “It is very unstable.” Russia is rolling out its own central bank digital currency, or CBDC. In June, Bank of Russia named 12 banks that will be involved in the initial testing of the digital Ruble. https://www.msn.com/en-us/money/markets/russian-president-putin-says-crypto-e2-80-98has-value-e2-80-99/ar-AAPw8xH?pfr=1

India's annual wholesale price-based inflation, a proxy for producers' prices, loitered in the double digits for the sixth month in a row in September, fuelling concerns of inflationary pressures as energy and raw material costs surge for companies. Economists said that with global commodity prices expected to remain elevated in coming months, manufacturers could try to pass on rising costs to consumers. https://www.nasdaq.com/articles/indias-wholesale-price-inflation-in-double-digits-for-6th-month-2021-10-14