The rush by physical traders and financial players has boosted benchmark Chicago futures by 31 percent since early November last year to an eight-month high, with the premium for July versus November contracts surging eightfold. Demand for immediate delivery has pushed cash prices at elevators in places such as Iowa and Illinois to unusually high premiums over futures. https://taipeitimes.com/News/biz/archives/2022/02/06/2003772622

Blockchain infrastructure company Meter said $4.4 million was stolen during a cyberattack on the platform. The Meter network as well as the Moonriver network were affected by the hack. Blockchain research company PeckShield confirmed that 1391 ETH and 2.74 BTC were stolen during the incident. https://www.zdnet.com/article/4-4-million-stolen-in-attack-on-blockchain-infrastructure-meter/

The occupancy rate in Europe's natural gas storage facilities fell to 37.5% in January 2021 from 52% in January 2022. The colder-than-expected winter season and the increase in energy demand have led to more use of natural gas in storage. The decrease in the amount of natural gas sent by Russia to Europe via Ukraine and the decrease in production from hydroelectric power plants were also influential in decreasing gas in the storages. https://www.aa.com.tr/en/economy/europes-gas-storage-levels-fall-to-375-in-january-2022/2495399

Stock of Tyson Foods, the world's second largest processor and marketer of chicken, beef, and pork after Brazil's JBS S.A., is soaring 9%, hitting an all time high and is one of the S&P's best companies. And speaking of food inflation, brace for more, much more: recent data showed the American cattle herd shrank more than expected, signaling consumers faced more sticker shock. https://www.zerohedge.com/commodities/tyson-foods-soars-record-after-hiking-beef-chicken-and-pork-prices-double-digits

Greece - Retail electricity prices in December 2021 rose by 45% y-o-y. the country in the grip of an unprecedented avalanche of high energy prices, which soon translated into indiscriminate increases in food and goods prices, which gave rise to strong inflationary pressures. Industrial producer prices soared to a 21-year high last month, pointing to further retail price hikes in the weeks and months to come. https://www.financialmirror.com/2022/02/06/greece-faces-energy-crisis-as-prices-spiral/

Edible oil prices could face further turmoil after Indonesia imposed curbs on its world-leading palm oil exports and as concerns grew that war in eastern Europe could dent Ukraine’s huge sunflower oil output. Together Indonesia and Malaysia account for over 80% of global palm oil exports. Russia and The Ukraine make up “more than 75% of all sunflower oil exports. https://www.thegrocer.co.uk/commodities/vegetable-oil-prices-surging-amid-tightening-supply-and-tensions-in-ukraine/664214.article

Iowa and U.S. farmers can expect income from crops and livestock production to tumble, with costs spiking. The agency expects U.S. farm income to fall to $113.7 billion, down $9.7 billion, or 7.9%, from 2021. costs to raise crops and livestock will grow 5.1% to $411.6 billion over the 2021 figure, with the price of fertilizer climbing 12% and for livestock feed, 6.1%. https://www.desmoinesregister.com/story/money/agriculture/2022/02/06/2022-farm-income-expected-fall-production-fertilizer-feed-costs-rise/6665786001/

Argentina has raised domestic prices for both sugarcane and corn-based bioethanol, which are mandatory to mix with gasoline in the country. Amid high domestic inflation of 50.9% in 2021, biofuel prices are periodically updated to remain competitive in Argentina, which is one of the world’s largest biodiesel producers. https://nationalpost.com/pmn/news-pmn/argentina-raises-domestic-biofuel-prices

India- Unlike physical cash, which is hard to trace, a digital currency that is monitored by the RBI can be more easily tracked and controlled by the Central Bank. Some even believe that some Central banks, such as the European Central Bank, may impose a negative penalty on their digital currencies. This could be done to force people to spend their digital currencies and to discourage the withdrawal of deposits from banks that impose negative interest rates. https://www.thehindu.com/business/Economy/rbis-digital-currency-plans/article38395561.ece

Stockpiles of high-end arabica beans, totaled 1.078 million bags or about 143 million pounds. That’s the lowest level for inventories monitored by the New York exchange since February 2000. Coffee reserves certified by ICE have been falling since September due to soaring shipping costs and unfavorable weather that clipped production in Brazil, the world’s largest grower and exporter.
http://www.ecoti.in/B83Avb

Portugal - Vodafone was the target of a "deliberate and malicious cyberattack" with the aim of causing damage and disruption. The attack is affecting the provision of services based on data networks, namely 4G/5G network, fixed voice services, television, SMS and voice/digital answering services. https://www.theportugalnews.com/news/2022-02-08/cyberattack-brings-down-vodafone/65121

World Wildlife Fund (WWF) affiliated with the World Economic Forum, and was a key-speaker at Davos 2020 publishes report to UK farmers. Even greater cuts may be needed to the UK’s pig herds and poultry flocks, because of the imported feed they eat, and people will need to eat much less meat than they do today. British farmers must reduce their production of meat and dairy by a third in the next 10 years if scientific advice on limiting greenhouse gas emissions is to be met. https://www.theguardian.com/environment/2022/feb/08/cut-meat-and-dairy-by-a-third-to-save-climate-british-farmers-told

The Reserve Bank of New Zealand is commencing proof-of-concept design work on developing a central bank digital currency (CBDC). It all started when there was a decline in the cash usage in New Zealand. In 2020, 71% of Kiwis used it as one way of paying. In 2019, it was 96%. https://finance.yahoo.com/news/zealand-soon-begin-proof-concept-062035857.html

Belarus, in response to the blocking of the transit of potash fertiliser through the Baltic port of Klaipėda, lowered the barrier against trains with Lithuanian petroleum products and fertilizers, especially those going to Ukraine. For several days now, economists and policymakers in the Lithuanian capital of Vilnius have been counting possible economic losses due to their transit war with Belarus. https://southfront.org/lithuania-goes-from-bad-to-worse-as-belarus-closes-vital-economic-railway-artery/

The Slovenian media house Pro Plus, which operates the country’s two leading TV commercial channels, has fallen victim to a cyberattack. Viewers resort to online for watching channels. They are focusing all efforts on resolving the situation. https://www.broadbandtvnews.com/2022/02/08/slovenias-pro-plus-hit-by-cyberattack/

As Brazilian farmers are planting their safrinha corn crop, they face atrazine shipping delays and unexpected canceled deliveries. The leading corn production herbicide is used to control broadleaf weeds. In 2020, Brazil exported Brazil: $5.9 billion worth of corn, (16%) of all global exported which was down 21% y-o-y. https://www.agweb.com/markets/pro-farmer-analysis/brazils-corn-growers-report-atrazine-shortage

Tesco shoppers have been warned the ‘worst is yet to come’ with food prices amid the cost-of-living crisis affecting families across the UK. But Tesco shoppers can also expect rising grocery bills when they get to the tills the supermarket’s chairman has warned. "So the likelihood is that that inflation trigger will rise but we're doing all we can to offset it." https://uk.sports.yahoo.com/news/tesco-warns-customers-worst-yet-113327380.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

Robust oil demand and the headroom for money managers to expand their long positions in the crude complex, combined with shrinking global spare production capacity and “worrisome” inventory levels, could push oil prices even higher. Brent Crude presently @ $91 USD per bbl. https://oilprice.com/Energy/Energy-General/Worlds-Top-Oil-Trader-Sees-Higher-Prices.html

Coamo, the largest farmer cooperative in Brazil, expects to receive 3.6 million tonnes of soybeans from the 2021/2022 crop, 40% less than initially projected amid crop failure caused by a drought. Brazilian food supply and statistics agency Conab slashed its estimate for soybean production by some 15 million tonnes in the 2021/2022 cycle, citing dry whether. https://kfgo.com/2022/02/10/brazils-biggest-farmer-coop-sees-40-soy-supply-drop-amid-drought/

TURKEY- Gold imports graph. No observable correlation for present initiative.

Turkey will expand its drive to lure savers back to the lira next week with a scheme aimed at bringing billions of dollars worth of “under the mattress” gold into the banking system. the government hoped that 10 per cent of the estimated $250bn worth of gold kept by Turks in their homes would be converted into lira under the initiative. Nebati said that 30,000 gold shops would play a central role in the scheme. The government had signed contracts with five gold refineries to convert jewellery handed over under the programme into gold bullion. https://www.ft.com/content/b015842e-fcbd-40f8-b3f7-f3bc6d5c43a8

Japan's producer price index marked another big spike in January, mainly due to higher prices of raw materials including crude oil. The Bank of Japan said the cost of goods traded among companies increased 8.6 percent in January from a year earlier. The index rose for the eleventh straight month. Wholesale price inflation is still near a record high. The index rose 9.2 percent in November, the fastest pace in four decades. https://www3.nhk.or.jp/nhkworld/en/news/20220210_21/