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On April 8th, it was reported that in order to rectify the chaotic spread of "AI-modified" videos, the State Administration of Radio and Television launched a month-long special campaign in January 2026. The campaign focused on cleaning up illegal videos based on classic TV dramas such as the Four Great Classical Novels, historical dramas, revolutionary dramas, and works depicting heroic figures, while also simultaneously removing various cult-like animations. The campaign removed over 23,000 illegal videos and dealt with over 100 violating accounts, effectively curbing the spread of illegal videos.April 8th - The Reserve Bank of New Zealands (RBNZ) meeting minutes revealed that the committee discussed preemptively preventing the risk of runaway inflation expectations. Influenced by the hawkish tone, the New Zealand dollar strengthened to 0.5819 at one point. Marcel Tillient, Head of Asia Pacific at Capital Economics, stated that the RBNZ seemed to have a conflicted attitude towards the "impact of the energy shock." "As a result, we expect the RBNZ to wait until the fourth quarter rather than the third quarter as predicted by the OIS market before tightening policy." The RBNZ did not provide comprehensive economic forecasts in its monetary policy assessment, but indicated that it expects inflation to rise to 4.2% in the June quarter. The statement said, "The extent of near-term increases in headline inflation will depend on how the Middle East conflict evolves and the extent and duration of disruptions to global supply chains and energy markets." The statement said the committee remains focused on returning inflation to its 2% target over the medium term, which requires core inflation and wage growth to remain under control and inflation expectations to stabilize at 2%. The statement said, "If these conditions are not met, a decisive and timely increase in the OCR will be necessary."Malaysian Prime Minister: Iran’s ten-point initiative foreshadows a good prospect for the restoration of peace and stability.April 8th - According to the Ministry of Industry and Information Technology, my countrys electronic information manufacturing industry experienced rapid production growth, a positive export recovery, significant improvement in profitability, and accelerated investment growth in January and February this year. Data shows that in January and February, the added value of the electronic information manufacturing industry above designated size increased by 14.2% year-on-year, 7.9 and 1.1 percentage points higher than the growth rates of the overall industrial sector and high-tech manufacturing, respectively. In the first two months, the electronic information manufacturing industry above designated size achieved operating revenue of 2.63 trillion yuan, a year-on-year increase of 14.3%; cumulative export delivery value increased by 1.2% year-on-year; and fixed asset investment in the electronic information manufacturing industry increased by 1.2% year-on-year.Reserve Bank of New Zealand Governor Brehman: We are not close to raising interest rates today.

Russia Cancels Ukraine Grain Deal; Wheat Futures Rise 6%

Charlie Brooks

Nov 01, 2022 15:01

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Following Russia's departure from a UN-sponsored agreement to protect Ukrainian exports over the Black Sea, European wheat futures rose over 6% on Monday.


Front-month wheat on the CME's computerized trading platform peaked at $889 per bushel before falling to $878.90 at 04:50 ET (08:50 GMT).


Russia withdrew from the summer agreement with Turkey after Ukrainian drones attacked the Russian Black Sea Fleet in Sevastopol over the weekend.


Ukraine has moved almost 9 million tons of agricultural products from its ports since the deal took effect three months ago, affecting the global market's equilibrium. Russia and Ukraine exported over 30% of global grain in 2012, and their dispute threatened supplies to some of the world's poorest nations.


Since talks of an agreement began, worldwide prices for wheat, corn, sunflower seeds, and oil have dropped by almost 30%, and the pact's suspension might reverse this.


In a morning note to clients, Saxo Bank strategist Ole Hansen noted that the suspension comes at an awkward time for markets: according to data from the Commodity Futures Trading Commission, money managers have placed increasingly large bets on falling grain prices in recent weeks, with net short positioning in Chicago wheat futures reaching a 28-month high in the week ending on Tuesday.


US Soybean Futures increased 0.6% and Corn Futures rose 2.8% to $698.75 per bushel, a two-week high.


Ukraine's capacity to attack Russia's fleet at its home base embarrasses the Kremlin, which has already lost the battlefield to Kyiv. Using unverified drone footage, Ukrainian networks claimed the strike severely damaged the ship Admiral Makarov. Since Ukrainian missiles sank the Moskva in April, the frigate has led the Black Sea Fleet.