The USDA said that, as of last week, 2007-2008 exports of:
Corn remained up 13% from a year ago.
Soybeans were up 1% from a year ago.
Cotton finished the crop year up 2% from a year ago.
Dow Jones Newswires reported that Iraq bought 100,000 tons of wheat from Russia. Also, the USDA also said that 2008-2009 exports of wheat slipped from up 30% to up 29% from a year ago. December wheat was up most of the day, but closed down 3.75 cents at $8.087.
The latest drought monitor map from the USDA shows extreme drought conditions in southern Texas, southwest Kansas, western North Dakota and the western half of the Carolinas.
The U.S. Congress will start its August vacation without extending the tax credits for either wind or biodiesel that run out at the end of this year. December soybean oil ended up .02 at 59.50.
