If current crop progress and conditions hold, many industry observers are forecasting production of corn and soybeans will at least match last year’s record harvest.

USDA reported yesterday that most corn remains in “good” (54%) to “excellent” (21%) condition, which is almost exactly the same as the previous week. A year ago 68% of corn was rated as “good” (54%) or “excellent” (17%) on this same date.

Corn silking has also started in most areas. Overall for the 18 states that planted 91% of corn acreage last year, 15% is in the silking state vs. 6% on this date a year earlier and the 5-year average of 18%.

Likewise, soybean conditions remain strong with 72% reported to be in “good” (57%) condition or “excellent”(15%) condition. This compares with 67% last year.

For the 18 states that produce 95% of U.S. soybeans last year, 24% are blooming, a solid increase over last week’s 10% and somewhat better than the 5-year average of 21%.