Yesterday, USDA reported 66% of the corn crop is in “good” or “excellent” condition, down 2% from last week’s 68%, but a big improvement over last year’s 31%. The ag agency is also reporting that about 16% of the corn crop is silking, which is down from the average level for this date over the last 5 years of 35%, and wayl behind the 67% of corn silking at this time last year.

USDA also reported that 65% of the soybean crop is in “good” or “excellent” condition, lower than last week’s report of 67%, but far better than a year ago when only 34% of U.S. soybeans were in “good” or “excellent” condition. According to USDA, approximately 26% of the soybean crop is blooming, behind the average over the last 5 years of 40%, and dramatically behind the 63% blooming at this point last year.