Australian cattle farmers will receive much-needed rains in the next two days, forecasters said on Wednesday, offering some relief to ranchers struggling to keep animals alive during a period of prolonged drought in the world’s No. 3 beef exporter.
Australia’s beef exports are set to rise 7 percent in the current 2013 to ’14 season to a record high satisfying the appetite of Asia’s increasingly affluent population and cementing the country’s position as China’s top supplier of beef.
The corn market gained 25 cents last week with the strength in the wheat market. Rumors that Russia may put a tax on wheat exports and may even ban exports supported the wheat market which spilled over to corn. The strengthening export demand and a firming cash basis also offered support last week.
Swine flu becomes first pandemic in 41 years The World Health Organization told its member nations it was declaring a swine flu pandemic Thursday — the first global flu epidemic in 41 years — as infections climbed in the United States, Europe, Australia, South America and elsewhere. U.S. officials said today they've taken an early aggressive approach and the WHO announcement won't change how it's been dealing with the issue. The WHO designation is based on geographic spread and not on the nature of the disease, U.S. officials said.
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