Today, USDA reported 70% of the corn crop is in "good" or "excellent" condition, slightly above last week’s 69%, but below last year’s 75%.

 Corn prices declined 10% last week, largely on ethanol legislation concerns, but are 97% above year ago levels. Soybean prices declined 3% last week, but are up 39% year-over-year, while wheat prices declined 11% over the past week, but are up 43% year-over-year 

Planting Progress Current Year  Last Year

5-Year Average
Corn (% emerged) 97%  100% 99%
Soybeans (% emerged)  82%  87%  86%
Spring Wheat (% emerged)  83% 99% 99%
Winter Wheat (% harvested)   31%    17%  22%                                            

 

Percent in “Good” or “Excellent” Condition Current Year Last Year

5-Year Average
Corn 70% 69%  75%
Soybeans  68%   67%  69%
Spring Wheat  72%  68%  84%
Winter Wheat  36%  35% 65%