This afternoon, USDA released its weekly crop report and overall crop conditions continue to deteriorate as weather in various ag regions remains tough on yields.

The agency reported 52% of the corn crop is in "good" or "excellent" condition, down from last week's 54%, as well as last year's 69%. Soybeans

While prices for corn, soybeans and wheat all declined last week, they all remain above historical levels.

Corn prices declined 1% last week, but are 65% above year-ago levels, while soybean prices were off 2% last week, but are up 35% year-over-yar. Wheat prices declined 5% over the past week, but are up 2% year-over-year.

Crop Progress

Percent of Crop in "Good" or "Excellent" Condition