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Land & Livestock Report
It has been more than three years since U.S. beef was eligible for Saudi Arabia. The United States lost access to this promising market in May 2012 following the BSE case in California, and it remains closed today.
Happy to report that farmers are smiling at the Spokane Ag Expo with a big rally in the grain markets.
Grains and cattle all ended lower across the board.
Corn closed lower on favorable crop conditions in South America while wheat had losses on weak export demand with plentiful world supplies.
Chicago and Kansas City Wheat exchanges were down slightly and Minneapolis was slightly higher.
Grains remained under selling pressure again on Wednesday.
Grains all traded lower to start the New Year as the the dollar continued its broad rally on Friday
Happy New Year. The last trading day of the year ended lower for the grains and mixed in the cattle markets.
Monday had very strong wheat and feeder cattle future prices.
Corn and wheat closed lower on Monday with corn harvest expected to slow down but with no expected problems.
USDA reports were released on Monday and found U.S. wheat stocks decrease by 10 million bushels but the world ending stocks were a bit higher.
Thursday was a mixed day for the grain markets — wheat was lower and both corn and beans higher.
Both corn and soybeans ended the day higher on Monday and wheat seem to go along for the ride.
Land & Livestock Report
Over the past 18 to 24 months, China has become the fastest-growing market in the world for imported beef. In 2013, China's beef imports increased nearly 400 percent in value from the previous year, reaching $1.33 billion. Through August, China's 2014 imports are 17 percent ahead of last year's pace at $961 million.
Early market concerns came from mid-west frost reports.
Wheat down again after the bearish USDA report were released.
Wheat contracts for Chicago ended mixed on Thursday however in Kansas City and Minneapolis contracts all ended higher.